The non-performing assets (NPA) associated with Mudra loans given out by public sector banks have come down in the current financial year, Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.
She said that in 2023-24, the NPAs on Mudra loans have declined to 3.4%, a siginificant improvement from 4.77% in 2020-21, 4.89% in 2019-20, and 3.76% in 2018-19.
Replying to a supplementary question by S. Senthil (Congress) during the Question Hour, Ms. Sitharaman said Mudra loan NPAs in private sector commercial banks fell to 0.95% in 2023-24 from a peak of 1.77% in 2020-21 and 0.67% in 2018-19.
Sahara deposits
In response to another question regarding depositors’ money in the Sahara Group, she said the Serious Fraud Investigation Office (SFIO) was carrying out a detailed probe into the matter and it was also looking into the reason behind a sizeable number of investors not coming forward to claim the invested money in the company.
The Finance Minister said all the matters pertaining to the Sahara group were being monitored by the Supreme Court and the government was acting according to the directives of the court.
“It is true that only small investors have come forward to claim the refunds. The SFIO is investigating the entire matter. It is also looking into why all the investors have not come forward to claim the refunds and where are they,” she said.
