Unlock the full potential of your business with Union Bank's MSME Policy. We understand the unique challenges faced by micro, small, and medium enterprises (MSMEs), and we are committed to supporting your growth and success. Our comprehensive policy provides a range of benefits and features designed to empower your business, enhance financial stability, and drive expansion. Whether you're a startup or an established MSME, Union Bank is here to fuel your ambitions and propel your business towards new heights.

In accordance with the provision of Micro, Small & Medium Enterprises Development (MSMED) Act, 2006, the revised definition of MSMEs has been communicated vide Gazette notification no.S.O.1702 (E) dated 1st June 2020 and Gazette notification vide S.O. 2119(E) dated 26th June 2020. The revised definition of MSMEs is effective from 1st July 2020. An enterprise shall be classified as a Micro, Small or Medium enterprise on the basis of the following criteria -

Composite criteria of investment and turnover for classification:

• A composite criterion of investment and turnover shall apply for classification of an enterprise as micro, small or medium.
• If an enterprise crosses the ceiling limits specified for its present category in either of the two criteria of investment or turnover, it will cease to exist in that category and be placed in the next higher category but no enterprise shall be placed in the lower category unless it goes below the ceiling limits specified for its present category in both the criteria of investment as well as turnover.
• All units with Goods and Services Tax Identification Number (GSTIN) listed against the same Permanent Account Number (PAN) shall be collectively treated as one enterprise and the turnover and investment figures for all of such entities shall be seen together and only the aggregate values will be considered for deciding the category as micro, small or medium enterprise.

"The online form for Udyam Registration captures depreciated cost as on 31st March each year of the relevant previous year. Therefore, the value of Plant and Machinery or Equipment for all purposes of the Gazette notification No. S.O. 2119(E) dated June 26, 2020 and for all the enterprises shall mean the Written Down Value (WDV) as at the end of the Financial Year as defined in the Income Tax Act and not cost of acquisition or original price, which was applicable in the context of the earlier classification criteria".

Union Bank understands the challenges faced by micro, small, and medium enterprises (MSMEs) and is committed to supporting their revival and growth. Our tailored solutions for MSMEs provide a lifeline to businesses in need of revival and rehabilitation. Whether your business requires financial restructuring, debt consolidation, or specialized advisory services, Union Bank offers comprehensive programs designed to unlock your business's potential. With our expertise, industry knowledge, and personalized approach, we stand by your side on the journey to business recovery and success. Let Union Bank be your partner in revitalizing and expanding your MSME to new heights.

Revival and Rehabilitation Policy

Application for rehabilitation of MSMEs - limit upto Rs.10 lacs

Application for rehabilitation of MSMEs - limit above Rs.10 lac upto 25 crore

i. Disposal of loan applications for Priority sector advances:

ii. Disposal of loan applications other than above:

In recognition of the immense potential and importance of Micro and Small Enterprises (MSEs) in driving economic growth and fostering entrepreneurship, the Code of UBI is forever committed to supporting MSEs.The following Table of Contents provides a comprehensive overview of the Code's commitments and guidelines for fair and transparent practices in the financial industry. This code aims to ensure the best interests of customers, particularly micro and small enterprises (MSEs), are prioritized. It outlines key objectives and the application of the code, emphasizing fair dealings, customer understanding, prompt issue resolution, privacy protection, and non-discrimination policies. The Code's commitment to fostering a secure and inclusive financial environment is evident in its provisions for the collection of dues and security repossession. With this, UBI demonstrates its unwavering dedication to empowering MSEs, enabling them to thrive, invest in innovation, and contribute to the socio-economic fabric of our communities.

• Click here for Code Bank's Commit. MSME pdf