Aadhar number is now compulsory for registering under the MSME act. An application is to be filed online using the Udyog Aadhar Registration, and this can be verified using e-Aadhar OTP. Provisional registration is given in the initial five years if an entity hasn’t started its business yet. During this period, it can obtain loans from banks, and apply for various NOCs from regulatory bodies. Once the entity commences its operations, it can apply for a permanent license which has lifetime validity, unless canceled.
