Answered on March 25,2019
Micro Units Development and Refinance Agency Limited (MUDRA), was launched for supporting the last mile financial institutions, banks, Micro-finance Institutions (MFIs), Non-Banking Financial Institutions (NBFCs) and other lending institutions, which are in the business of lending to micro enterprises, engaged in manufacturing, trading, services and other income generating activities.
MUDRA provides refinance, Credit Guarantee and other development support to these lending institutions to expand their outreach and providing support for “funding the unfunded”. This in turn helps micro businesses across the length and breadth of the country. MUDRA’s mandate includes developing the micro enterprise into a viable economic sector, through various developmental interventions, both financial and non-financial, with a view to enhance the income and employment opportunities in the country.