Question
What corpus is allocated to set up MUDRA
Bank?Solution
Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution. It was launched by PM Narendra Modi on 8 April 2015. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. MUDRA has a corpus of Rs 20,000 crore, and credit guarantee corpus of Rs 3,000 crore.
The deposits made under the ‘Mahila Samman Savings Certificate 2023’ shall bear interest at the rate of _________________.
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