<h1>MUDRA Bank Launched to Boost Micro-Businesses with Rs. 20,000 Crore Corpus, Supporting SC/ST Enterprises via PMMY.</h1> The Union Finance Minister announced the establishment of the Micro Units Development Refinance Agency (MUDRA) Bank in the 2015-16 budget, with a corpus of Rs. 20,000 crore and a credit guarantee corpus of Rs. 3,000 crore. MUDRA Bank aims to refinance Micro-Finance Institutions via the Pradhan Mantri Mudra Yojana, prioritizing SC/ST enterprises. Pending legislative approval, MUDRA Ltd., a subsidiary of SIDBI, was launched as a Non-Banking Financial Institution. It will support Last Mile Financiers, including NBFCs, to provide financial assistance to micro-businesses in urban and rural areas, promoting self-employment and micro-unit development.