Which one out of the following subsidiaries has been set up by SIDBI with the concept of ldquo fundi...........

Finance (Phase -I & II) Financial Institutions

Which one out of the following subsidiaries has been set up by SIDBI with the concept of “funding the unfunded” micro enterprises?

SIDBI Venture Capital Limited

Micro Units Development & Refinance Agency Ltd (MUDRA)

SIDBI Trustee Company Limited

India SME Asset Reconstruction Company ltd.

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Explanation:

Micro Units Development & Refinance Agency Ltd (MUDRA) has been set up on April 08, 2015 as a wholly owned subsidiary of SIDBI for “funding the unfunded” micro enterprises in the country.

The MUDRA banks were set up under the Pradhan Mantri MUDRA Yojana scheme. It will provide its services to small entrepreneurs outside the service area of regular banks, by using last mile agents. About 5.77 crore (57.6 million) small business have been identified as target clients using the NSSO survey of 2013. Only 4% of these businesses get finance from regular banks. The bank will also ensure that its clients do not fall into indebtedness and will lend responsibly.