Bandhan Bank Ltd Receives Rs.314.68 Crore from NCGTC under CGFMU Scheme

Bandhan Bank Ltd has received a claim payout of Rs.314.68 crore from National Credit Guarantee Trustee Company (NCGTC) under the Credit Guarantee Fund for Micro Units (CGFMU) scheme as on March 31, 2024. The claim considers the exclusion of certain accounts due to operational gaps caused by Covid restrictions during FY 2020-21. The recoveries of approximately Rs.228.40 crore made by the Bank from the accounts covered under the CGFMU scheme are held in the Bank's balance sheet. The total claim payout and recoveries amount to approximately Rs.543.08 crore. The Bank had also raised a claim of approximately Rs.508 crore under the Emergency Credit Line Guarantee Scheme (ECLGS), out of which Rs.161.13 crore has been settled by NCGTC. The remaining amount of approximately Rs.347 crore is now pending a fresh claim submission to NCGTC.