CURRENT AFFAIRS

Detailed explanation-1: -Credit and finance for MSMEs: MSME Minister Narayan Rane on Monday launched the web portal for the Rs 6, 062.45-crore World Bank-assisted central government scheme Raising and Accelerating MSME Performance (RAMP) for MSMEs, over six months after Prime Minister Narendra Modi launched the scheme.

Detailed explanation-2: -The launch was done by Urban Development Minister Venkaiah Naidu in the presence of Kalraj Mishra, Union MSME Minister and Haribhai Parthibhai Chaudhary, MoS MSME and other senior officials from the Ministry.

Detailed explanation-3: -The ECLGS will be extended up to March 2023 expanding the guarantee cover by INR 50, 000 crore to a total cover of INR 5 Lakh Crore. INR 2 lakh crore additional credit for Micro and Small Enterprises to be facilitated under the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE).

Detailed explanation-4: -MSME was first introduced by the MSMED (Micro, Small, and Medium Enterprises Development) Act of 2006.

Detailed explanation-5: -Udyam Registration Portal. Except this portal of Government of India and Government’s Single Window Systems, no other private online or offline system, service, agency or person is authorized or entitled to do MSME Registration or undertake any of the activity related with the process.