The Reserve Bank on Wednesday notified the inclusion of retail and wholesale trade under the micro, small and medium enterprises (MSME) category.
This will help retail and wholesale trade benefit from priority sector lending under RBI guidelines.
Earlier on July 2, the Ministry of Micro, Small and Medium Enterprises had decided to include retail and wholesale trade under MSMEs for the limited purpose of priority sector lending.
The revised guidelines will benefit 2.5 crore retail and wholesale traders. The move would also allow them to register on the Udyam portal for MSMEs.