RBI Updates: New Definition of Micro, Small and Medium Enterprises - Clarification

It is clarified that

the existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAM) of the MSMEs obtained till June 30, 2020 shall remain valid till June 30, 2022 for classification as MSMEs; and

the validity of documents obtained in terms of O.M. No.12(4)/ 2017-SME dated March 8, 2017 (RBI Circular dated July 13, 2017), for classification of MSMEs upto June 30, 2020, has been extended upto June 30, 2022.