RBI/2020-2021/26 FIDD.MSME & NFS.BC.No.4/06.02.31/2020-21 August 21, 2020 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir / Madam, New Definition of Micro, Small and Medium Enterprises – clarifications Please refer to the  circular FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 dated July 2, 2020  on ‘Credit flow to Micro, Small and Medium Enterprises Sector’. 2. In view of the representations from IBA and banks regarding applicability of certain aspects contained in the  Gazette notification No. S.O. 2119(E) dated June 26, 2020  on new criteria for classifying the enterprises as micro, small and medium enterprises, the Ministry of MSME, vide their Office Memorandum (OM) No.2/1(5)/2019 – P & G/Polic

  RBI/2020-2021/10 FIDD.MSME & NFS.BC.No.3/06.02.31/2020-21 July 2, 2020 The Chairman/ Managing Director/Chief Executive Officer All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks) All Primary (Urban) Co-operative Banks/State Co-operative Banks / District Central Co-operative Banks All-India Financial Institutions All Non-Banking Financial Companies Dear Sir / Madam, Credit flow to Micro, Small and Medium Enterprises Sector Please refer to our  circular RPCD.PLNFS.BC.No.63/06.02.31/2006-07 dated April 4, 2007  containing definition of Micro, Small and Medium Enterprises as per Section 7 (I) of the Micro Small and Medium Enterprises Development Act, 2006. 2. In this connection, we inform that Government of India (GoI), vide  Gazette Notification S.O. 2119 (E) dated June 26, 2020 , has notified new criteria for classifying the enterprises as Micro, Small and Medium enterprises. The new criteria will come into effect from July 1, 2020. The d

Ministry of Micro, Small and Medium Enterprise vide its Notification Notification No. S.O. 2119(E) dated: June 26, 2020 revised classification criteria of MSME with effect from 01st July, 2020. Link to Notification published in Official Gazette Summary of MSME Classification Criteria Composite Criteria: Investment in Plant & Machinery/equipment and Annual Turnover Classification Micro Small Medium Manufacturing Enterprises and Enterprises rendering Services Investment in Plant and Machinery or Equipment: Not more than Rs.1 crore and Annual Turnover ; not more than Rs. 5 crore Investment in Plant and Machinery or Equipment: Not more than Rs.10 crore and Annual Turnover ; not more than Rs. 50 crore Investment in Plant and Machinery or Equipment: Not more than Rs.50 crore and Annual Turnover ; not more than Rs. 250 crore

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