Question

MSME has launched which important initiatives on the sidelines of the 14th MSME National Board Meeting at Vigyan Bhavan in August 2016?

• A. MSME Databank Portal
• B. Online Facilitation Web Portal
• C. Both of the above
• D. Neither of the above

Answer 1

The correct option is C Both of the above

Exclusive credit Plans for Small and Medium Enterprise entails providing a lower rate of interest for growing business units and offering them access to banking services at a low rate of interest, quick processing, and servicing. Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. Some of the benefits from Central Government include easy sanction of bank loans (Priority sector lending), lower rates of interest, excise exemption scheme, the exemption under Direct Tax Laws and statutory support such as reservation and the interest on Delayed Payments Act. The Provisional Registration Certificate (PRC) will be valid for a fixed period of 5 years from the date of issue of PRC. In other words, the PRC will automatically lapse at the end of 5 years from the date of issue of the certificate or the date of commencement of production by the unit, whichever is earlier.