Finance Risk of defaults in Mudra loans rising, says Citi Updated : November 28, 2019 11:11 AM IST As of FY19, cumulative GNPAs since inception in PMMY loans were Rs 176.5 billion, which was 2 percent. The Reserve Bank of India’s deputy governor MK Jain also flagged off the risk of rising NPAs in Mudra loans and the need for banks to closely monitor the same. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.