Udyam registration is a government registration and certification provided to small and medium businesses in India. It provides a unique registration number and recognition certificate. Obtaining an Udyam registration has several benefits, including exemption from higher interest rates on loans, eligibility for subsidies and incentives. While registration was voluntary initially, the Reserve Bank of India has now made it mandatory for lenders to ensure MSME borrowers have registered. The key document required is the personal Aadhaar number of the proprietor, managing partner, or Karta for sole proprietorships, partnerships and HUFs respectively.