What is the purpose of the Udyam Assist Portal (UAP)

Solution

The Udyam Assist Portal (UAP) certificate issued to Informal Micro Enterprises (IMEs) serves the purpose of formally registering these unregistered small businesses, allowing them to access benefits like Priority Sector Lending (PSL) by treating their UAP certificate as equivalent to a regular Udyam Registration Certificate, essentially bringing them under the formal MSME framework even without a GST number; this initiative is aimed at facilitating financial inclusion for small businesses that might otherwise struggle to access credit due to lack of formal registration.