Question
Download Solution PDFMUDRA is a financial institution set up by the Government of India for the development and refinancing of micro unit enterprises. The full form of MUDRA is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Micro Units Development & Refinance Agency.Key Points
- MUDRA stands for Micro Units Development & Refinance Agency.
- It is a financial institution that was set up by the Government of India to provide financial assistance to micro unit enterprises.
- The main objective of MUDRA is to promote entrepreneurship and generate employment opportunities in the country by providing access to credit for small businesses.
- MUDRA offers loans of up to Rs. 10 lakhs to micro and small enterprises under three categories - Shishu, Kishor, and Tarun.
- The loans provided by MUDRA are collateral-free and can be availed by both new and existing businesses.
Additional Information
- The other options mentioned in the question are not the correct full form of MUDRA.
- Option 1 (Micro Urban Development & Refinance Agency) and Option 4 (Medium Units Development & Refinance Agency) are incorrect as MUDRA focuses on micro and small enterprises only.
- Option 3 (Micro Finance Usage Development & Refinance Agent) is also incorrect as it does not represent the full form of MUDRA.
- Hence, the correct answer is option 2.
Last updated on Jun 25, 2025
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