PSL Limited

The Reserve Bank on Tuesday said Informal Micro Enterprises (IMEs) with an Udyam Assist Certificate will be treated as micro-enterprises under MSME for the purposes of priority sector lending classification. IMEs are those enterprises which are unable to get registered on the Udyam Registration Portal (URP) due to a lack of mandatory required documents, such as Permanent Account Number (PAN) or Goods and Services Tax Identification Number (GSTIN). As a result, such enterprises are unable to avail the benefits of government schemes or programmes. Further, the government has clarified to the RBI that the turnover of enterprises exempted from filing returns under the provisions of the Central Goods and Services Tax Act, 2017, is the sole criterion to be defined as IMEs for the purpose of UAP. Hence, IMEs are those enterprises that are not covered in the Goods and Services Tax regime. In a circular, the RBI said the government has specified that the certificate issued on the UAP to IM

PSL made losses of Rs 697 crore in 2016-17