Finance minister Nirmala Sitharaman on Monday told the Lok Sabha that the government is closely monitoring any harassment of borrowers during loan recovery and is willing to hear any cases that come up.
The finance minister made this observation in her reply on the loans sanctioned under MUDRA Scheme, where she stated that the non performing or bad loans for state run banks has come down to 3.4%, lower than what it was in the beginning of the 2023-24 financial year (FY24)
“The NPAs of PSBs on disbursement of MUDRA loans was 3.76% in FY19. It went up to 4.8% in FY20. In FY21, it stood at 4.77%,” she stated.
The finance minister also pointed out that 76.29 lakh accounts amounting to ₹43,407.09 crore have turned into Non-Performing Assets under the scheme. The overall number of NPAs on MUDRA loans stood at 2.10%.
