Bandhan Bank shares gained as much as almost 0.40 percent on Wednesday, January 22, after announcement of receiving claim payout of Rs 290 crore under Credit Guarantee Fund for Micro Unit Scheme.
Bandhan Bank shares are currently trading at Rs 150.77 apiece, up by 0.33 percent.
As per an exchange filing, Bandhan Bank payout claim is worth Rs 290 crore, raised to National Credit Guarantee Trustee Company (NCGTC) under the CGFMU scheme.
The computed claim payout March 31, 2024 stood at Rs 314.68 crore, while net was at Rs 25.09 crore in lieu of recoveries from eligible accounts from April 1, 2024 to October 31, 2024.
In October 2024, Bandhan Bank announced that NCGTC had completed a forensic audit of the bank's claims under the CGFMU scheme, totaling Rs 1,231.29 crore as of March 31, 2024. The bank had already received Rs 916.61 crore in December 2022, leaving a balance of Rs 314.68 crore as the final payout for the period.
The bank had insured a loan portfolio of Rs 20,807 crore under the CGFMU scheme for FY2020-21 and disbursed over Rs 1,948 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) since FY2020-21. In addition to the initial claim, Bandhan Bank filed for an extra Rs 1,296.32 crore in the second quarter of FY24.
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