Which of the following is the correct full form of "MUDRA"?
Answer & explanation
Correct answer: option 3
"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.