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Micro Units Development Refinance Agency (MUDRA) Bank

Dated:- 8-5-2015 - The Union Finance Minister in the Union Budget 2015-16 announced to set up a through a statutory enactment, with a corpus of ₹ 20, 000 crore, and credit guarantee corpus of ₹ 3,000 crore. MUDRA Bank will refinance Micro-Finance Institutions through a Pradhan Mantri Mudra Yojana (PMMY). In lending, priority will be given to SC/ST enterprises. Pending passing of legislation by Parliament, Micro Units Development Refinance Agency Ltd., which is wholly owned subsidiary .....

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