Arun Jaitley, Union Minister of Finance & Corporate Affairs launched two important initiatives of the Ministry of MSME, viz. MSME Databank Portal and Online Finance Facilitation Web Portal on the sidelines of 14th Meeting of the National Board of MSME at Vigyan Bhawan.

Kalraj Mishra, Union Minister for MSME said that the Ministry of MSME is making online Census of the MSMEs in the country for the first time by launching a comprehensive databank on http://www.msmedatabank.in

This will not only save the efforts and money required for physical Census but will also enable the MSME units and the various Associations to furnish data on click of the button and sitting in their units. The MIS dashboard of the databank will provide real time information on various types of the MSMEs registered on the databank.

The databank will eventually will be used for public procurement purposes and the PSUs will make use of the data for procuring from MSMEs. MSME Development (Furnishing of Information) Rules, 2016 have also been notified making it compulsory for MSMEs to give the required information.

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