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Government scheme loans have higher NPAs, corporate loans 'under control', says SBI chief Rajnish Kumar

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Small-ticket government scheme loans have a higher number of bad loans than corporate loans, State Bank of India (SBI) Chairman Rajnish Kumar said,

Speaking at the Bharat Chamber of Commerce’s e-session on the banking system, he said corporate bad loans are now "under control"

“NPAs in Kisan Credit Card (KCC) loans are at par with Mudra loans. In Mudra loans, the gross NPA was close to 15 percent. However, with a new digital model in place, NPAs stood at close to 10 per cent," he pointed out.

Singh also spoke about loan moratoriums, noting that enthusiasm for the scheme was subdued as borrowers feared "cost implications" and "increased liability" at this point of time.

Commenting on loans disbursed to medium, small and micro enterprises (MSMEs), Singh said SBI has over the past 15 days disbursed 60 percent of the loans sanctioned to 2 lakh MSMEs, adding: “Our data analysis shows that MSMEs are managing this crisis very well.”

He also noted that businesses are "near to normal" after Unlock 1.0 – operating at 75-85 percent capacity and some industries also experiencing growth in exports.

"But more investment in the infrastructure sector was needed for growth to come back. Sectors like aviation, tourism and hospitality remained under stress," he said.

He added that while the Centre's fiscal stimulus package has created a "favourable investment environment", recovery has been slow. He added that when investment in roads and renewable energy picks up growth would "come back to growth quickly".