(1) Prime Minister NarendraModi, in April 2015, launchedMicro Unit Development andRefinance Agency, or MUDRAto fund and promote microfinanceinstitutions (MFIs),which would in turn provideloans to small and vulnerablesections of the businesses.MUDRA will have an initialcorpus of Rs 20,000 crore anda credit guarantee corpus ofRs 3,000 crore.