Micro Units Development & Refinance Agency

Micro Units Development & Refinance Agency (MUDRA) is an economic development institution based in New Delhi, India. Established in 2015, The institution provides loans at low rates to micro-finance institutions and non-banking financial institutions. MUDRA is responsible for developing and refinancing all micro-finance institutions (MFIs) which are in the business of lending to micro or small business entities engaged in manufacturing, trading and service activities. MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. The management board is responsible for the administration of the entity.