MSME Formalisation Project - Udyam Assist Platform (UAP)
The principal objective of the MSME Formalisation project is to provide Udyam Registration to the large number of Informal Micro Enterprises (IMEs) not registered with GST authorities. UAP has been developed by SIDBI with Regulated Entities like Banks, NBFCs, MFIs, etc. and government departments acting as Designated Agencies (DAs) and assisting in Udyam registration of IMEs. MoMSME and RBI have notified that certificate from UAP to IMEs shall be on par with Udyam Registration Certificate for coverage under Priority Sector Lending. UAP was launched by the Hon’ble Minister of MSMEs, GoI on January 11, 2023. At present, UAP is onboarded by over 145 DAs which have facilitated registration of over 1.50 crore unique IMEs.