Define the term 'MUDRA Banks'.

Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking finance institutions which then provide credit to MSMEs. It will provide its services to small entrepreneurs outside the service area of regular banks, by using agents. About 5.77 crore (57.6 million) small business have been identified as target clients using the NSSO survey of 2013. Only 4% of these businesses get finance from regular banks. The Bank will also ensure that its clients do not fall into indebtedness and will lend responsibility. The bank will classify its clients into three categories and the maximum allowed loan sums will be based on the category: Shishu: Allowed loans up to ₹ 50,000 (US$780) Kishore: Allowed loans up to ₹ 5 lakh (US$7,800) Tarun: Allowed loans up to ₹ 10 lakh (US$16,000) Those eligible to borrow from MUDRA Bank are: Small manufacturing unit Shopkeepers Fruits and Vegetables vendors Artisans The basic criteria of age should be 18 years old. Loan under the scheme of the Pradhan Mantri Mudra Bank Loan will be available only for commercial and business purposes and not for personal purposes. At the most, borrower can buy vehicle from mudra loan, given that it is used for commercial purposes. Lastly, this loan is for new business and is only applicable for small business owners.