2% Loans Under Mudra Scheme now Bad Loans: Minister Anurag Singh
July 19, 2019
Minister of State Finance Anurag Singh Thakur said that around 2% of loans approved under Pradhan Mantri Mudra Yojana so far have now become non-performing assets (NPAs). He said that some of the reasons behind the same are poor lending practices and credit appraisal, borrowers under Shishu category focusing on emergency requirements, wilful defaults, etc.
According to the data shared by the government, SBI has the highest amount of Mudra loan NPAs with it as they stand at ₹2,694 crores, followed by Jana Small Finance Bank that has ₹2,193 crores worth of bad loans.