Traders will get bank loans, can register on Udyam portal

Aurangabad, July 3:

The central government recently announced to give Micro, Small and Medium Enterprises (MSME) status to small traders affected by corona impact and the decision has been welcomed by the traders union. The traders said that the decision will make it easier for traders to get bank loans and also enable them to register on the Udyam Aadhaar portal.

Due to the lockdown, non-essential services shops were closed for a long time. Therefore, the traders' organisations had often demanded concessions to retailers. The decision was announced by union minister for MSME Nitin Gadkari recently. As per the decision, the new guidelines have been restructured and will benefit thousands of retail and wholesale traders in the district. They will now be given priority in loans as per RBI norms. This decision will enable the traders to register on the Udyam Aadhaar portal and also avail the benefits of micro-entrepreneurs. They will also be able to avail bank loans, government schemes and concessions. They can also participate in government corporation development corporation development schemes for the entrepreneurs. It will also allow them to grow and restructure their business. President of the Zilla Vyapari Mahasangh Jagannath Kale said the decision will help in the empowerment and economic development of these small traders who have been given the status of MSMEs. He appealed to the traders to register on the Udyam Aadhaar portal as they will get benefits from the central government. Laxminarayan Rathi, mahasangh general secretary said that the next generation of traders will now happily enter the business with the status of entrepreneurs. This standard will be of use to those who want to start new business with new technology and standards, as well as to face the competition of e-commerce websites.