Bandhan Bank on Wednesday said it has received a claim payout of ₹290 crore under the credit guarantee fund for micro units (CGFMU) scheme. The bank had been earlier under the audit scanner of National Credit Guarantee Trustee Company Ltd.
The bank’s scrips at ₹151.45 were up 0.77 per cent on the BSE on Wednesday.
“The bank has received a claim payout of ₹289.59 crore under the CGFMU scheme (computed as ₹314.68 crore assessed as claim payout as on March 31, net of ₹25.09 crore pertaining to recoveries from eligible accounts from April 1, 2024 to October 31, 2024),” the bank said in a filing.
CGFMU and ECLGS (emergency credit line guarantee scheme) are trust funds set up by the government and managed by NCGTC as a trustee, to guarantee payment against default in loans extended to eligible borrowers by banks.
Bandhan Bank had taken insurance of a loan portfolio of ₹20,807 crore under the CGFMU scheme pertaining to loans for FY21. The maximum amount eligible for claim under the CGFMU scheme is 15 per cent of the total insured amount.