MSME alert! Udyam Portal registration is FREE - Don't fall prey to fake websites
Secretary in the MSME Ministry AK Sharma has emphasised that the process for registration of MSMEs through the government website Udyam portal is absolutely free and cautioned the public not to fall prey to fake websites.
Secretary in the MSME Ministry AK Sharma has emphasised that the process for registration of MSMEs through the government website Udyam portal is absolutely free and cautioned the public not to fall prey to fake websites. "I would also like to caution that we have been hearing that there were many fake websites which have emerged in the market claiming that they would enable the registration process," the Secretary said.
Also, he confirmed that over 3 lakh micro, small and medium enterprises (MSMEs) have registered in nearly two months through the new registration process on the 'Udyam' portal. "More than 3 lakh registrations have taken place in the months of July and August and now the speed is going up," AK Sharma said.
He further said that the Fund of Funds scheme will soon be rolled out. "The other scheme we are working on is the Fund of Funds scheme, most of the formalities are over and in a very short while we will go to the market and invite private equity funds and venture capital funds," Sharma said at a webinar organised by Confederation of Indian Industry (CII).
For this purpose, a Fund of Funds with a corpus of Rs 10,000 crore is to be set up to provide equity funding for MSMEs with growth potential and viability. The Fund of Funds scheme is intended to help those businesses who are in their nascent and initial stages, where there are almost no prospects to raise funds through the help of professional corporations or venture capitalists. The scheme proposes to buy up to 15 per cent growth capital in high credit MSMEs.
Finance Minister Nirmala Sitharaman in May had announced Rs 50,000-crore equity infusion through Fund of Funds for MSMEs. In May, Sitharaman had also said that MSMEs receivables from the government and Central Public Sector Enterprises (CPSEs) will be released within 45 days.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:05 PM IST