by The Ministry of Micro, Small and Medium Enterprises vide Office Memorandum dated July 2, 2021 has allowed Udyam registration for retail and wholesale trade. Bank’s lending to the Micro, Small and Medium enterprises as under is eligible to be reckoned for priority sector advances: What is the definition of MSME?
(ii) Further, such MSMEs should be engaged in the manufacture or production of goods, in any manner, pertaining to any industry specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 or engaged in providing or rendering of any service or services. All bank loans to MSMEs conforming to the above guidelines qualify for classification under priority sector lending.