The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Banks
B	NBFCs
C	MFIs
D	All of the above

Explanation:

Detailed explanation-1: -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.

Detailed explanation-2: -MUDRA loan is offered by banks to aid non-corporate, non-farm sector income generating microenterprises that require credit below Rs.10 lakh. Interest rates on MUDRA loans start at the rate of 7.30% p.a. and the loan repayment tenure ranges between 1 year and 7 years.

Detailed explanation-3: -To enable every last mile financer to lend credit to all types of businesses in the country, the MUDRA-Micro Units Development and Refinance Agency bank was established as a public sector financial institution.

There is 1 question to complete.