DFS Secretary Reports Record Low NPAs as Tripura Receives Major Credit Boost

Agartala: Public sector banks have achieved historic lows in bad debt, with Net Non-Performing Assets dropping below 0.4 percent. M. Nagaraju, Secretary of the Department of Financial Services, shared the milestone during a Credit Outreach Programme in Agartala on Tuesday. He attributed the success to rigorous policy implementation and consistent monitoring across the banking sector.

During the event, officials distributed loan sanction letters totaling 419.11 crore to 10,162 beneficiaries in Tripura. Nagaraju also unveiled a new 500 crore project designed to provide grants and loans to deserving individuals throughout the country. These efforts reflect the government focus on expanding financial inclusion and support for entrepreneurs.

The Secretary noted that federal banking initiatives have successfully brought nearly 58 crore citizens into the formal financial system, including 32 crore women. He highlighted the significant impact of the Pradhan Mantri Mudra Yojana, which has sanctioned 26 lakh crore in loans, with a strong focus on women-led enterprises. Other programs, such as the Kisan Credit Card, PM Vishwakarma, and various social security schemes, continue to serve as pillars for nationwide economic growth.