Bandhan Bank Limited has provided an update regarding its claims under the Credit Guarantee Fund for Micro Units (CGFMU) and Emergency Credit Line Guarantee Scheme (ECLGS). Following a forensic audit conducted by the National Credit Guarantee Trustee Company (NCGTC), the Bank has disclosed that the total claim payout under the CGFMU scheme has been assessed at ₹1,231.29 crore as of March 31, 2024.
The Bank had previously received ₹916.61 crore from NCGTC in December 2022, leaving a final claim payout of ₹314.68 crore. Additionally, recoveries amounting to ₹228.40 crore have been accounted for under the CGFMU scheme, bringing the total amount to approximately ₹543.08 crore, which will be recorded in the Bank’s profit and loss statement as ‘Other Income’.
Regarding the ECLGS scheme, the Bank had raised claims of ₹508 crore, of which ₹161.13 crore has been settled, while the remaining ₹347 crore was held pending the forensic audit. With the audit now complete, the Bank can resubmit claims for the remaining amount.
Bandhan Bank will continue following the necessary procedures to raise and account for these claims in its financial records.
