OREANDA-NEWS.  Shri 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, today. Shri Kalraj Mishra, Union Minister for MSME, Shri Giriraj Singh and Shri Haribhai Parthibhai Chaudhary, Minister of State for MSME were present on the occasion.

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.

Shri Kalraj Mishra also stated that 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.

To start with, the Finance Facilitation Centres will become operational at Jalandhar, Peenya, Ludhiana, Guwahati, Lucknow and Delhi from today onwards. The portal will allow the MSMEs to apply for loans from the various banks on the NSIC portal itself. NSIC has also signed MoUs with 33 banks, 14 of whom have agreed to associate with online Finance Facilitation Web Portal.

Shri Arun Jaitley, Union Finance Minister appreciated the efforts of Shri Kalraj Minister in taking various initiatives towards ease of doing business. He also appreciated that the main scheme of the Ministry, namely, Prime Ministers Employment Guarantee Programme has also been brought online. He also congratulated Shri Kalraj Mishraji on early implementation of National SC/ST Hub, which was announced in the Union Budget.

Shri Jaitley stated that the Government of the day is committed to Ease of Doing Business and passing of GST will also be a step towards this direction. He also stated that 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.