Two important MSME initiatives launched in August 2016

Q.  MSME has launched which important initiatives on the sidelines of the 14th MSME National Board Meeting at Vigyan Bhavan in August 2016?
- Published on 16 Aug 16

a. MSME Databank Portal
b. Online Facilitation Web Portal
c. Both of the above
d. Neither of the above

ANSWER: Both of the above
 
Arun Jaitley, India’s Finance Minister launched two important MSME initiatives: MSME Databank Portal and Online Finance Facilitation Web Portal at the sidelines of the 14th Meeting of the National Board of MSME.
  • MSME Ministry is also making an online census of the MSMEs in the country for the first time by launching a comprehensive databank ; This will save effort and resources for census
  • Databank will provide information and be used for public procurement purposes.
  • No grant or subsidy will be given to any MSME until the data is captured on the MSME databank.
  • Portal will also allow MSMEs to apply for loans from various banks on the NSIC portal and MoUs have been signed with 33 banks, 14 of which are going to work with the online Finance Facilitation Web Portal

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