The Micro, Small and Medium Enterprises (MSME) sector has popped-up as a high-yielding, vibrant, productive and the most dynamic sector of the Indian economy. These enterprises play a crucial role in providing ample employment opportunities, helping in industrialization of rural & backward areas, reducing the regional imbalances and assuring that there is an equitable distribution of the national income and wealth. They are complementary to the large industries as an ancillary unit and they contribute an enormous amount to the socio-economic development of the Indian economy. Though at times, they do need assistance and aid from the Government’s side as they are not well-equipped with the technology and resources. Therefore, the Government divises schemes, incentives, plans and rebates to this sector of the economy.