Government Launches Data Bank Portal of MSMEs [ Current Affairs - Policies & Governance ]
Union Minister of Finance & Corporate Affairs, Shri Arun Jaitley launched two important initiatives of the Union Ministry of MSME such as: MSME Databank Portal and Online Finance Facilitation Web Portal.
MSME Databank Portal:
- MSMEs: Micro, Small and Medium Enterprises
- The aim of MSMEs is to collect information about micro, small and medium enterprise including their requirement in terms of raw material and marketing, credit and technology, etc.
- Databank have one-stop source of information of MSMEs of India.
- This portal will not only save the efforts and money required for physical Census.
- It will also permit the MSME units and the various associations to provide data and sitting in their units.
- It will provide real time information on various types of the MSMEs registered on the portal.
- Government will carry out a census of MSMEs online for the first time, through the databank.
Online Finance Facilitation Web Portal:
- This portal will permit MSMEs to apply for loans from the various banks on the NSIC (National Small Industries Corporation) portal itself.
- It will provide collective funding options for MSMEs.
- NSIC provides appropriate credit support to the various MSME units for purchase of raw material and started an online Finance Facilitation Centre.
- NSIC has also signed MoUs with 33 banks and 14 have agreed to associate with online Finance Facilitation Web Portal.
- Published on: August 15, 2016