In just one year, the Non-Performing Assets (NPAs) under Prime Minister Narendra Modi’s flagship scheme Pradhan Mantri Mudra Yojana (PMMY) saw a jump of 126 %. The information was received as a response to an RTI filed by The Wire.
The NPAs of loans issued under the program jumped by Rs 9,204.14 in FY 19 from Rs 7,277.31 crore in March 2018 to Rs 16,481.45 crore in March 2019. Under the Mudra Scheme, a total of 30.57 lakh accounts have been declared as NPAs. Though the value of NPAs is not very high as compared to the total loan value granted, it is still increasing constantly.
As per the RTI data, the loans to the tune of Rs 3.11 lakh crore in total was granted between April 1, 2018, and March 31, 2019, which means that the value of NPAs is 2.89% of the total value of loans.
According to the official government website, the total amount of sanctioned loans increased 26.82% from Rs 2.53 lakh crore to Rs. 3.21 lakh crore in FY 19. The loan disbursal increased 26.53% from Rs 2.26 lakh crore to Rs 3.11 lakh crore in the same period. The total number of loans also saw a 24.39% jump from 4.8 crores on April 1, 2018, to 5.9 crores on March 31, 2019.
