government of india is setup mudra bank because
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The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.
Explanation:
It is a public sector financial institution set up by the government of India. It was launched by Prime Minister Narendra Modi in April 2015. It is to provide loan and finance to micro-enterprises at low-interest rates in order to develop the micro-enterprise sector in the country.
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