Bad loans under Mudra Yojana stands at Rs 7,277 cr

NEW DELHI: The government Tuesday informed Parliament that loans worth Rs 7,277.31 crore of public sector banks under Pradhan Mantri Mudra Yojana (PMMY) have turned bad at the end of March 2018. Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions (MLIs) were Rs 5.71 lakh crore, Minister of State for Finance Shiv Pratap Shukla said in a written reply to the Rajya Sabha. Loans under PMMY can be covered under Credit Guarantee Fund for Micro Units (CGFMU), he said.