Prime Minister Narendra Modi Launches MUDRA Scheme

NEW DELHI, INDIA - APRIL 8: Prime Minister Narendra Modi with Union Minister for Finance Arun Jaitley and MOS Jayant Sinha during the launch of the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana at Vigyan Bhawan on April 8, 2015 in New Delhi, India. In his Budget Speech for Financial Year 2015-16, Union Finance Minister Arun Jaitley had proposed the creation of the bank, with a corpus of Rs. 20,000 crore, and credit guarantee corpus of Rs. 3,000 crore. The bank will extend credit of up to Rs.10 lakh to small businesses and regulate micro-finance institutions, to promote their growth, add to the country's output and create jobs. (Photo by Arvind Yadav/Hindustan Times via Getty Images)