Jaitely launches online portal to assist MSMEs

Jaitely launches online portal to assist MSMEs

The govt has launched MSME Databank Portal and Online Finance Facilitation Web Portal

The Dollar Business Bureau

Finance Minister Arun Jaitely on Thursday launched two key initiatives – MSME Databank Portal and Online Finance Facilitation Web Portal – with a common focus to bring transparency and efficiency in the MSME day-to-day operation. 

“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,” said Jaitely, on the margins of the 14th meeting of the National Board of MSME. 

The MIS dashboard will provide real-time information on different types of the MSMEs available on the databank. It will be used for public procurement purposes. The PSUs can use this data for procuring from MSMEs. 

“The objective of the databank is to have one-stop source of information of MSMEs of India, including their credit and technology, requirement in terms of raw material and marketing, etc. A decision has also been taken that no grant or subsidy will be given to any MSMEs unless the data is captured on the MSME databank,” Kalraj Mishra said. 

The NSIC, a credit support provider to various MSME units for buying raw material, has also initiated an online finance facilitation centre on http://www.nsicffconline.in, which will allow the SMEs to apply for credits from various banks on the portal itself. 

Jaitley praised the MSME minister for taking a slew of initiatives to improve ease of doing business and implementing the National SC/ST Hub, announced in this year’s Union Budget. He underscored that the government is committed to improve ease of doing business in the country and that the GST is also a right step in this direction. 

“All financial support will be provided to MSMEs to improve their competency in various fields. He welcomed the suggestions of MSME fraternity on the issue,” he said. 

The meeting was also attended by MSME Minister Kalraj Mishra, Union Minister for MSME Giriraj Singh and Minister of State for MSME Haribhai Parthibhai Chaudhary.

The Dollar Business Bureau - Aug 12, 2016 12:00 IST
 
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