Arun Jaitley to launch data bank to gather information about MSMEs

Posted on:12 Aug 2016 09:47:46
Arun Jaitley to launch data bank to gather information about MSMEs
12 August 2016 Current Affairs: Finance Minister Arun Jaitley will launch a data bank to gather information about micro, small and medium enterprises MSMEs in New Delhi . In this regards, MSME Secretary K K Jalan has stated that, through the data bank, a census of MSMEs will be carried out online for the first time. He also said that this will help save money as the previous census conducted in 2008 cost 50 crore rupees, whereas this one is expected to be completed in just Rs. one crore.

The census process will start formally today with the launch of the data bank. These Online Finance Facilitation Centres will be opened in Jalandhar, Ludhiana, Guwahati, Lucknow, Peenia, and Delhi. 

The centres will operate as a one-stop-shop by providing collective financing options for MSMEs sourced from major financial institutions. It will also aid the enterprises with documentation work and help them prepare bankable project proposals. According to the MSME Development (Furnishing of Information) Rules, 2016, MSMEs need to furnish basic details to the Central government online in the databank maintained by it on www.msmedatabank.in.

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