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NPA of PSBs under Pradhan Mantri Mudra Yojana stands at Rs 7,277 crore
Feb-13-2019

Minister of State for Finance Shiv Pratap Shukla has said that a Non-performing asset (NPA) worth Rs 7,277.31 crore of public sector banks (PSBs) under Pradhan Mantri Mudra Yojana (PMMY) have turned bad at the end of March 2018. He also said that loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions (MLIs) were Rs 5.71 lakh crore. He added that loans under PMMY can be covered under Credit Guarantee Fund for Micro Units (CGFMU).

Shukla has stated that CGFMU has been formed with the purpose of guaranteeing payment against default in micro loans up to Rs 10 lakh extended to eligible borrowers by the MLIs. He also indicated that as on February 01, 2019, over 15.73 crore loans amounting to Rs 7.59 lakh crore have been extended by MLIs under PMMY, since inception of the scheme. He added that almost 73 percent of the loans under PMMY have been extended to women borrowers.

The minister further said the RBI has apprised that the list of suit-filed defaulters of Rs 1 crore and above and the list of suit-filed wilful defaulters of Rs 25 lakh and above are available in public domain on the websites of Credit Information Companies (CICs). Also, RBI has apprised that the list of non-suit filed defaulters of Rs 1 crore and above and non-suit filed wilful defaulters of Rs 25 lakh and above is confidential in nature and is exempted from disclosure under section 45E of the Reserve Bank of India Act, 1934. He also stated that the RBI has further apprised that the list of suit-filed wilful defaulters is compiled on quarterly basis and compilation of the list as on December 31, 2018 is under process.

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