Kolkata, According to an industry body report, about 40 per cent of the micro loans disbursed by the end of FY 2023-24 were by NBFC-MFIs and 33 per cent by scheduled banks.
Microfinance Industry Network (MFIN), a premier body of micro-finance institutions, said NBFC-MFIs are the largest providers of micro-credit in the country.
As of March 31, 2024, the gross loan portfolio of micro-credit lending institutions stood at Rs 4.33 lakh crore.
The MFIN report said the share of small finance banks in the total micro credit disbursed is 17 per cent, followed by NBFCs at nine per cent.
It said that about 4.3 crore customers have outstanding loans from NBFC-MFIs.
The assets under management (AUM) of the MFI as of March 31, 2024 stood at Rs 1,56,884 crore.
In terms of regional distribution of the portfolio, East and North-East account for 32 per cent, followed by South at 27 per cent, North at 16 per cent and West at 15 per cent.
The average loan amount disbursed per account during financial year 2023-24 was Rs 45,024, registering an increase of 9.9 per cent over the previous financial year, the report said.
During the last financial year, NBFC-MFIs received loan funds of Rs 89,308 crore, an increase of 29 per cent compared to the 2022-23 financial year.
Microfinance Industry Network (MFIN), a premier body of micro-finance institutions, said NBFC-MFIs are the largest providers of micro-credit in the country.
As of March 31, 2024, the gross loan portfolio of micro-credit lending institutions stood at Rs 4.33 lakh crore.
The MFIN report said the share of small finance banks in the total micro credit disbursed is 17 per cent, followed by NBFCs at nine per cent.
It said that about 4.3 crore customers have outstanding loans from NBFC-MFIs.
The assets under management (AUM) of the MFI as of March 31, 2024 stood at Rs 1,56,884 crore.
In terms of regional distribution of the portfolio, East and North-East account for 32 per cent, followed by South at 27 per cent, North at 16 per cent and West at 15 per cent.
The average loan amount disbursed per account during financial year 2023-24 was Rs 45,024, registering an increase of 9.9 per cent over the previous financial year, the report said.
During the last financial year, NBFC-MFIs received loan funds of Rs 89,308 crore, an increase of 29 per cent compared to the 2022-23 financial year.
