#NABARD #AFO #SCHEME Scheme: Micro Units Development and Refi | Agriculture Exams Library
#NABARD #AFO #SCHEME Scheme: Micro Units Development and Refinance Agency (MUDRA) Bank
Key Facts about the scheme:
1. The government proposes to set up MUDRA Bank through a statutory enactment. Broad Objective : 1. This Bank would be responsible 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.
2. The Bank would partner with state level/regional level co-ordinators to provide finance to Last Mile Financer of small/micro business enterprises. Nodal Ministry and institutions : Ministry of Finance 1. Sum of Rs 20,000 crores would be allocated to MUDRA Bank from the money available from shortfalls of Priority Sector Lending
2. Another Rs 3,000 crore would be provided to the MUDRA Bank from the budget.
