MoneycontrolDec 28, 2021Bad loans in Mudra scheme double as Covid19 hits MSMEsHit by a slowing economy and two pandemic waves, bad loans of the micro, small and medium enterprises (MSMEs) under the Pradhan Mantri Mudra Yojna (PMMY) have doubled since 2018-19 or FY19.FY19 was the last pre-pandemic fiscal.The NPAs of small businesses against loans taken under PMMY, better known as the Mudra scheme, stood at Rs 34,090.34 crore in FY21, against Rs 17,712.63 crore in FY19.Data shared by Minister of State for Finance Bhagwat Karad, in response to a question in Parliament, show that NPAs under the scheme jumped more than 47 percent to Rs 26,078.43 crore in FY20 and then another 31 per cent during the pandemic year.Read more at Moneycontrol
Hit by a slowing economy and two pandemic waves, bad loans of the micro, small and medium enterprises (MSMEs) under the Pradhan Mantri Mudra Yojna (PMMY) have doubled since 2018-19 or FY19.FY19 was the last pre-pandemic fiscal.The NPAs of small businesses against loans taken under PMMY, better known as the Mudra scheme, stood at Rs 34,090.34 crore in FY21, against Rs 17,712.63 crore in FY19.Data shared by Minister of State for Finance Bhagwat Karad, in response to a question in Parliament, show that NPAs under the scheme jumped more than 47 percent to Rs 26,078.43 crore in FY20 and then another 31 per cent during the pandemic year.Read more at Moneycontrol
