Meanwhile, in the financial year so far, total credit disbursement under the scheme was Rs 2.12 lakh crore during April-February. This compares with Rs 2.46 lakh crore disbursed in the previous full fiscal year 2017-18.
Narendra Modi’s scheme of small loans for businesses has seen bad loans soaring in all the three segments — Shishu, Kishore and Tarun, while the total credit disbursements are lower, The Indian Express reported said citing RTI data.
Bad loans, or NPAs, under Mudra scheme in the first nine months of the current financial year 2018-19 have increased almost 53 per cent to Rs 14,930.98 crore from Rs 9,769.99 crore last year, according to the obtained under the RTI Act from the Micro Units Development and Refinance Agency (MUDRA).
The data also show an increase in number of NPA accounts under the scheme from 17.99 lakh on March 31, 2018 to 28.83 lakh as on December 31, 2018.
Meanwhile, in the financial year so far, total credit disbursement under the scheme was Rs 2.12 lakh crore during April-February. This compares with Rs 2.46 lakh crore disbursed in the previous full fiscal year 2017-18. The data show that the NPA ratio has risen this year. A rise in the number of NPA along with subdued credit disbursement implies that the ratio of gross NPA (NPAs divided by credit disbursed) which stood at 3.96 per cent in 2017-18 might have increased this year, said The Indian Express.
Micro Units Development & Refinance Agency Ltd. (MUDRA) launched in April 2015 by Prime Minister Narendra Modi provides loans to the non-corporate, non-farm sector income generating activities of micro and small enterprises whose credit needs are below Rs 10 lakh. The loans are disbursed by commercial Banks, regional rural banks, small finance banks, cooperative Banks, MFIs and NBFCs.
The increase in number of bad loan accounts during the nine months of the current year was 58.33 per cent, 70 per cent and 45 per cent under the Shishu, Kishore and Tarun respectively. The increase in value of the loans have been 64 per cent, 52 per cent and 42 per cent for Shishu, Kishore, Tarun respectively, reported The Indian Express.
Courtesy : financialexpress