Consider the given statements about MUDRA Bank:

Solution

MUDRA stands for Micro Units Development & Refinance Agency Ltd. It is a financial institution set up by the Government of India for the development and refinancing of micro units' enterprises. - The Union Budget presented by the then Finance Minister Arun Jaitley for FY 2015-16 announced the formation of MUDRA Bank. - MUDRA was launched by Prime Minister Narendra Modi on 8th April 2015 at a function held at Vigyan Bhawan, New Delhi. - The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs, and MFIs.