The microfinance business’s Gross Loan Portfolio (GLP) grew by 10.04 per cent to Rs 2,85,441 crore as of March 2022, in line with a report by Microfinance Institutions Network (MFIN).
The business’s GLP stood at Rs 2,59,377 crore in March 2021.
MFIN is an business affiliation of 58 NBFC-MFIs and 39 associates, together with banks, Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs). On Wednesday, it launched the Micrometer report for January to March 2022 i.e., This fall FY2021-22 quarter.
The report stated 12 banks maintain the biggest share of portfolio in micro-credit with complete mortgage excellent of Rs 1,14,051 crore, which is 40 per cent of complete micro-credit universe.
NBFC-MFIs are the second largest supplier of micro-credit with a mortgage quantity excellent of Rs 1,00,407 crore, accounting for 35.2 per cent of complete business portfolio.
SFBs have a complete mortgage quantity excellent of Rs 48,314 crore with complete share of 16.9 per cent. NBFCs account for an additional 6.9 per cent and different MFIs account for 1 per cent, the report stated.
The microfinance lively mortgage accounts elevated by 4.4 per cent throughout the previous 12 months to 11.3 crore as on March 31, 2022, it stated.
GLP of NBFC-MFIs stood at Rs 96,561 crore as on March 2022, a 19.4 per cent year-on-year (YoY) rise as in comparison with Rs 80,906 crore a 12 months in the past.
The GLP contains an owned portfolio of Rs 82,458 crore and a managed portfolio of Rs 14,104 crore, it added.
NBFC-MFIs acquired a complete of Rs 47,931 crore in debt funding throughout FY21-22, which is an 18.1 per cent enhance from the previous monetary 12 months.
Total fairness of the NBFC-MFIs grew by 15.2 per cent YoY to Rs 21,419 crore as on March 31, 2022, it stated.
Source: www.financialexpress.com”