BANKING AFFAIRS

Detailed explanation-1: -A medium enterprise is an enterprise where the investment in equipment is more than Rs. 2 crore but does not exceed Rs. 5 crore.

Detailed explanation-2: -As per this announcement, the definition of Micro manufacturing and services units was increased to Rs. 1 Crore of investment and Rs. 5 Crore of turnover. The limit of small unit was increased to Rs. 10 Crore of investment and Rs 50 Crore of turnover.

Detailed explanation-3: -10 crores to Rs. 50 crores. Beyond an annual turnover of Rs. 250 crores, an enterprise shall lose its MSME status regardless of the amount of its investment in plants, machineries, and equipment.

Detailed explanation-4: -(iii) A medium enterprise is an enterprise where the investment in plant and machinery or equipment does not exceed ₹50 crore and turnover does not exceed ₹250 crore.

Detailed explanation-5: -MSME stands for Micro, Small, and Medium Enterprises. In accordance with the Micro, Small, and Medium Enterprises Development (MSMED) Act in 2006, the enterprises are classified into two divisions. Manufacturing enterprises – engaged in the manufacturing or production of goods in any industry.