Which of the following are correct regarding MUDRA bank 1 Its aim is to refinance the Micro Fi...........

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Which of the following are correct regarding MUDRA bank?

1. Its aim is to refinance the Micro Finance Institutions (MFIs) which are engaged in lending to MSMEs.

2. It will be responsible for accreditation and rating of MFIs

3. There are three financial stages for MUDRA- Shishu, Kishore and Tarun.

Select the correct option from the following

1 only

1 and 3

2 and 3

All of the above

MUDRA stands for Micro Units Development Refinance Agency (MUDRA). On 8th April 2015 government launched MUDRA bank.

• Aim – To refinance microfinance Institutions (MFIs) engaged in lending to MSME’s engaged in manufacturing, trading and service activities.

• How will it achieve the objective –

• Laying down policy guidelines for MFIs

• Registration of MFIs

• Accreditation, rating of MFI

• Promoting technology

• Running a credit guarantee scheme for providing guarantees to loans

Other Facts –

• It will be the part of Small Industries Development Bank of India (SIDBI)

• Pradhan Mantri MUDRA Yojana will be the main support system for MUDRA Bank.

• Started with an initial corpus of Rs. 20,000 crore .

• There are 3 financing stages for MUDRA Bank known as

• Shishu : for start-ups. They are eligible for loan of Rs. 50,000.

• Kishore : entrepreneur will be eligible for a loan ranging from Rs 50,000 to Rs 5 lakh

• Tarun : maximum loan up to Rs. 10 lakh can be provided under this stage.

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