The microfinance industry has recorded a 61 per cent jump in its loan portfolio in the second quarter ended September 30, 2014, by lending Rs.12,500 crore against Rs.7,500 crore in the corresponding period last year. The industry is represented by 48 non-banking financial companies-microfinance institutions (NBFC-MFIs), which are members of the Microfinance Institutions Network (MFIN). They constitute over 90 per cent of the total microfinance industry business, except self-help groups. These NBFC-MFIs had disbursed loans to 7.9 million customers in the second quarter against 5.8 million customers in the corresponding period, an increase of 35 per cent. The average size of loan was Rs.15,858 per account. The total number of beneficiaries during this quarter stood at 28 million against 23 million.
According to the 11the edition of MFIN Micrometer, the aggregate group loan portfolio of MFIs stood at Rs. 28,800 crore (Rs.25,000 crore). Interestingly, only one per cent of the portfolio was termed to be under risk.
Top ten MFIs accounted for 77 per cent of disbursals with Bandhan leading the list, followed by SKS Microfinance, Ujjivan, Janalakshmi and others.
This is the second time in the current year that Bandhan was in the forefront of lending among the MFIs. West Bengal, Tamil Nadu, Karnataka, Maharashtra, Bihar and five other States had disbursed 58 per cent of the loan amount. During the period under review, MFIs received Rs.10,584 crore in debt funding, of which 72 per cent came from the banks and the balance from financial institutions.
SOURCE: The Hindu
Apr 23, 2010 26
Jun 13, 2015 0
1 year ago
Jun 17, 2015 0
Jun 13, 2015 0