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of <h1>Union Cabinet Approves Credit Guarantee Fund for MUDRA Loans; MUDRA Ltd. to Become MUDRA SIDBI Bank for Better Support.</h1> The Union Cabinet has approved the establishment of a Credit Guarantee Fund for MUDRA loans, aimed at supporting micro and small units by guaranteeing over Rs. 1,00,000 crore in loans. MUDRA Ltd. will be converted into MUDRA SIDBI Bank, a subsidiary of SIDBI, to enhance refinance operations. The National Credit Guarantee Trustee Company Ltd. will manage the fund, providing guarantees on a portfolio basis up to 50% of the default amount. This initiative is part of the Pradhan Mantri Mudra Yojana, launched to reduce credit risk for financial institutions and improve access to finance for small enterprises.
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