Any entrepreneur having valid Aadhaar Number can apply for MSME Registration.
At present Aadhaar Number is mandatory for issuance of MSME Certificate.
MSME Registration is valid for the lifetime period.
All banks and other financial institutions recognise MSME and have created special schemes for them.
This usually includes priority sector lending, which means that the likelihood of your business being sanctioned a loan is high. Bank loan interest rates will also be lower. There may also be preferential treatment in case of delay in repayment.
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006 in terms of which the definition of micro, small and medium enterprises is as under:
Enterprises engaged in the manufacture or production, processing or preservation of goods as specified below:
With Hubco, it will take two working days to get the registration done.