What is MSME? MSME businessmen are being encouraged in many ways by the Central Government and the State Government. The micro, small and medium industries sector has a very important contribution in the development of the country. In view of the contribution of the small scale sector, government banks as well as private sector non-banking financial companies (NBFCs) are also providing low-interest rate business loans. One important thing is that in order to take advantage of the facilities run by the government, it is mandatory for the industry to have MSME registration. Certain definitions have been prescribed by the government to define small scale industry. The definition of small scale industry is as follows:

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