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of <h1>RBI Clarifies New MSME Classification Criteria; Udyam Registration Mandatory for All Enterprises by March 2021.</h1> The circular issued by the Reserve Bank of India clarifies the new criteria for classifying Micro, Small, and Medium Enterprises (MSMEs) following representations from banks and the Indian Banks' Association. The Ministry of MSME has mandated that all enterprises must register online to obtain an 'Udyam Registration Certificate.' Existing registrations, such as the Entrepreneurs Memorandum Part II and Udyog Aadhaar Memorandum, remain valid until March 31, 2021. The value of plant and machinery for classification purposes will now be based on the Written Down Value at the end of the financial year. Previous instructions regarding investment in plant and machinery are superseded.
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