"In the last thirty months, an additional 18.3 million women have taken microfinance loans. This growth in unique borrowers is an endorsement of the unstinted trust that small borrowers have reposed on all RBI-regulated microfinance institutions," MFIN's chief executive Harsh Srivastava said.
The report said in terms of regional distribution of GLP, East and North-East accounts for 40 per cent, South 28 per cent, North 10 per cent, West 14 per cent and Central contributes 7 per cent.
The top 10 states constitute 82.7 per cent in terms of GLP.
Tamil Nadu is the largest state followed by West Bengal and Bihar.
Banks hold the largest share of the portfolio in micro-credit with a total loan outstanding of Rs 80,570 crore, which is 40 per cent of the total micro-credit universe.
NBFC-MFIs are the second largest provider of micro- credit with a loan amount outstanding of Rs 62,960 crore, accounting for 31 per cent to total industry portfolio.
Small Finance Banks (SFBs) have a total loan amount outstanding of Rs 34,829 crore with a total share of 17 per cent, NBFCs 11 per cent with a total loan outstanding of Rs 21,381 and other MFIs account for one per cent share in the microfinance universe.
As on September 30, 2019, the on-balance sheet portfolio of 85 NBFC-MFIs was Rs 62,960 crore which is spread across 601 districts of 35 states and union territories grew around 17 per cent over the last fiscal.
Of these 54 NBFC-MFIs members of MFIN received a debt funding of total Rs 9,443 crore during Q2 FY20, the report showed.
MFIN is an industry association comprising 56 NBFC- MFIs and 35 associates including banks, SFBs and NBFCs. It is also the self-regulatory organization (SRO) for the regulated NBFC-MFI.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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