Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

Which of the following is the correct full form of "MUDRA"?

Options:

Macro Units Development and Refinance Agency

Medium Units Development and Refinance Agency

Micro Units Development and Refinance Agency

Multi Units Development and Refinance Agency

Correct Answer:

Micro Units Development and Refinance Agency

Explanation:

"MUDRA" stands for "Micro Units Development and Refinance Agency". It is a public sector financial institution in India that provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015.