Mudra loan disbursements in West Bengal satisfactory: SLBC

Mudra loan disbursements in West Bengal has been satisfactory since its inception, with the number of beneficiaries crossing 51 lakh till June 2017, the State Level Bankers' Committee (SLBC) said today.

"Since its inception in the financial year 2015-16, Mudra loan disbursement in the state crossed Rs 15,149 crore, while for the first quarter of the current financial year it was Rs 1,902 crore," N K Kapoor, GM of United Bank of India (UBI) told reporters here.

UBI is the convenor of SLBC of West Bengal.

Kapoor , however, added that the level of non-performing assets (NPAs) for Mudra loans was as high as 15 to 16 per cent.

The Central government had launched the Mudra loan scheme to promote entrepreneurship at the bottom level, where the disbursement amount ranged from Rs 50,000 to Rs 10 lakh without collateral.

Commenting on the credit-deposit (CD) ratio of the state, he said as on March 2017, it was 65 per cent, lower than the national average of around 75 per cent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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