MUDRA Bank- Bank for regulation of microfinance lending

Q.  Name the bank announced to be setup in the budget for regulating and refinancing all Micro-finance Institutions (MFI) which are in the business of lending to micro/small business entities engaged in manufacturing, trading and services activities?
- Published on 20 Jul 15

a. Micro Bank
b. SIDBI Bank
c. MUDRA Bank
d. Micro-Finance Bank

ANSWER: MUDRA Bank
 
The government announced Micro Units Development and Refinance Agency (MUDRA) Bank to be set up with a capital of Rs 20,000 Crore for regulating and refinance all micro-finance institutions. Additional 3,000 Crore rupees would be provided to the MUDRA Bank from the budget to create a Credit Guarantee corpus for guaranteeing loans being provided to the micro enterprises.

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