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RBI directs banks in view of MSME Notification S.O.2347(E) Dt. 16 June 2021

The Reserve Bank of India (RBI) directed the banks on ‘New Definition of Micro, Small and Medium Enterprises – clarifications’. In this connection the RBI informed the commercial and co-operative banks that Government of India, vide their Gazette Notification S.O. 2347(E) dated 16 June 2021, has notified amendments in paragraph (7) sub-paragraph (3) in the notification of Government of India, Ministry of Micro, Small and Medium Enterprises number S.O. 2119 (E), dated June 26, 2020, published in the Gazette of India.

In view of the above amendment, paragraph 2.2 (i) of RBI circular dated 21 August 2020 stands modified as under: “The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till 30 June 2020 shall remain valid till 31 December 2021”.


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