Udyam Assist Platform launched on 11.01.2023 aims to bring Informal Micro Enterprises under the formal ambit for availing benefits under Priority Sector Lending. The platform has been developed by Small Industries Development Bank of India (SIDBI). The initiative is taken as part of the MSME Formalisation process. Benefits Currently, MSMEs can register online and generate their Udyam Registration Number (URN) on Udyam Registration Portal (URP) of Ministry of MSME, Govt of India. URN is essential for a bank loan to an MSME to be classified under Priority Sector Lending. Most unregistered MSMEs are Informal Micro Enterprises (IMEs) may not have necessary documents, motivation, ability or awareness to register on the Udyam Portal. MSME Formalisation project's principal objective is to register the large number of IMEs through Assist mode with the help of Designated Agencies like banks, NBFCs, MFIs, etc. on the Udyam Assist Platform of Ministry of MSME, Gol. The certificate issued on the Udyam Assist Platform (UAP) would be treated at par with Udyam Registration Certificate for IMEs for availing of the benefits of Priority Sector Lending (PSL). Implementation Process Registration of Designated Agencies (DA), who are eligible regulated entities to assist IMEs for generation of Udyam Registration in the UAP Registration of IMEs by the DAs. Informal Micro Enterprise can obtain its Udyam Registration Number/Udyam Assist Certificate from its Designated Agency or can download their certificate from UAP by submitting validations. In case of PM SVANidhi beneficiaries, vendors can download their Udyam Assist Certificates by accessing the PM SVANidhi portal through their login IDs. To know more, visit Udyam Assist Platform