In the context of supporting micro, small, and medium enterprises (MSMEs) in India, the Udyam Registration Certificate (URC) plays a pivotal role. Launched by the Government of India, the URC is crucial for businesses to be officially recognized under the MSME category. What specific benefit does the Udyam Registration Certificate (URC) provide for MSMEs in terms of their interactions with the banking sector?
1
International trade opportunities
2
Exemption from taxes
3
Classification as MSMEs for priority sector lending
4
Automatic approval of patents
5
None of the above