Shares of Bandhan Bank Ltd were trading in the green and 1% higher on 22 January after the company announced receiving a claim payout worth Rs 290 crore Credit Guarantee Fund for Micro Unit Scheme.

According to an exchange filing, Bandhan Bank has submitted a payout claim worth Rs 290 crore to the National Credit Guarantee Trustee Company (NCGTC) under the CGFMU scheme.

As of 31 March 2024, the calculated claim payout stood at Rs 314.68 crore. However, after recoveries of Rs 25.09 crore from eligible accounts between 1 April 2024 and 31 October 2024, the net claim was reduced accordingly.

In October 2024, Bandhan Bank disclosed that NCGTC had completed a forensic audit of claims filed under the CGFMU scheme, which totalled Rs 1,231.29 crore as of 31 March 2024. Out of this, the bank had already received Rs 916.61 crore in December 2022, leaving Rs 314.68 crore as the final settlement for the period.

The bank had insured a loan portfolio of Rs 20,807 crore under the CGFMU scheme for FY 2020-21 and disbursed over Rs 1,948 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) since FY 2020-21. Additionally, Bandhan Bank filed a supplementary claim of Rs 1,296.32 crore during the second quarter of FY24.

At 3:30 pm, the shares of Bandhan Bank closed 0.49% higher at Rs 151.02 on NSE.

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