Nalanda: Concerned over the rising outstanding dues under various minority loan schemes, the Bihar government has announced a six-day special recovery camp in Nalanda from November 24 to 29. The initiative aims to recover long-pending amounts from defaulters amid mounting pressure on the state treasury.
According to data released by the Bihar State Minorities Financial Corporation Limited, loan defaults have reached an alarming level. District Minority Welfare Officer Manish Kumar said that between the financial years 2012–13 and 2022–23, loans amounting to ₹52.77 crore were disbursed to 327 beneficiaries in Nalanda under the Chief Minister’s Minority Employment Loan Scheme, education loans and other assistance programmes.
Recovery Rate Just 13 Percent
Despite the large volume of funds disbursed over nearly a decade, only ₹68.26 lakh has been recovered so far — a recovery rate of just 13 percent. Officials said the slow pace of repayment is severely affecting the sustainability of the schemes and restricting the flow of fresh loans to eligible candidates.
The District Minority Welfare Officer has urged borrowers to make use of the special camp and clear their dues to avoid legal complications. He said prompt repayment is in the interest of beneficiaries, as continued default will invite strict measures.
Strict Action Warning for Defaulters
The Corporation’s Managing Director, Mumtaz Alam, has directed officials to adopt a tough stance moving forward. Defaulters will be liable to pay the outstanding amount along with interest and penalty interest, he said. The department has also warned that no excuses will be entertained from those who fail to pay their dues during the camp.
Officials added that both civil and criminal cases may be initiated against chronic defaulters.
Scheme Faces Key Challenges
The minority loan schemes were launched to support economic upliftment and generate employment among marginalized communities. However, poor recovery has not only strained government resources but also hindered the rollout of loans to new applicants.
As the special recovery camp begins on November 24, the department hopes that borrowers will voluntarily step forward to settle their dues. Authorities maintain that further delays in repayment will no longer be tolerated.
