NEW DELHI, October 11 — The Ministry of Micro, Small and Medium Enterprises (MoMSME) on Sunday announced that formal enterprise registrations across the Udyam Registration Portal and Udyam Assist Platform have surpassed the historic milestone of 5 crore units—accounting for over 21 crore documented jobs—while simultaneously operationalizing the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) offering collateral-free machinery loans up to ₹100 crore.
Administered by the National Credit Guarantee Trustee Company Limited (NCGTC), the MCGS-MSME provides 60 percent sovereign guarantee coverage to Scheduled Commercial Banks and NBFCs for term loans sanctioned to manufacturing MSMEs procuring modern plant, machinery, and automation equipment without demanding third-party collateral or personal guarantees.
Furthermore, Public Sector Banks have rolled out automated in-house digital credit underwriting models that score MSME loan applications based on real-time GSTN tax filings, UPI merchant cash flows, and account aggregator footprints rather than external rating agency reports, compressing loan sanction turnarounds to 72 hours. Concurrently, the Small Industries Development Bank of India (SIDBI) is opening 24 new direct cluster branches to deepen direct refinancing.
The revised composite definition of MSMEs under the MSMED Act 2006 (Micro: investment up to ₹1 cr and turnover up to ₹5 cr; Small: investment up to ₹10 cr and turnover up to ₹50 cr; Medium: investment up to ₹50 cr and turnover up to ₹250 cr), the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), the World Bank-assisted RAMP (Raising and Accelerating MSME Performance) program, and Trade Receivables Discounting System (TReDS) platforms are core syllabus areas across UPSC Civil Services (GS-III: Industrial Policy) and RBI/SIDBI Grade A/B examinations.