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Cabinet approves creation of a Credit Guarantee Fund for MUDRA loans A boost to refinance operations

News and Press Release - Dated:- 6-1-2016 - The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has given its approval for the creation of a Credit Guarantee Fund for Micro Units Development Refinance Agency (MUDRA) loans and to convert MUDRA Ltd. into MUDRA Small Industries Development Bank of India (SIDBI) Bank as a wholly owned subsidiary of SIDBI. The Fund is expected to guarantee more than ₹ 1,00,000 crore worth of loans to micro and small units in the first instance. .....

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