Street Vendors of Nagaland to get funding coverage after its inclusion in MSME category

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Kohima: The Ministry of Micro, Small and Medium Enterprises, Government of India has approved the inclusion of Urban Street Vendors in the MSME category.

Street vendors can now register as ‘retail trades’ on Udyam Registration (UR) portal and get funding coverage under the ‘Priority Sector Lending’ window of the lending institution.

Informing this on Tuesday, KMC administrator T Lanusenla Longkumer requested all the street vendors under the jurisdiction of KMC to get registered in the Udyam Portal (https://udyamregistration.gov.in) for availing such benefits.

The loans extended to street vendors after inclusion in the priority sector can be guaranteed by National Credit Guarantee Trustee Company Limited (NCGTC) (Portfolio Based Guarantee) and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) (Transaction based Guarantee).