Tamil Nadu, West Bengal account for 29% of MFI loans | India News


MUMBAI: Two states, Tamil Nadu and West Bengal, account for 29% of loans from microfinance institutions (MFIs) in the country and the top 10 states account for 83% of all small loans outstanding as of March 2019.
The total outstanding microfinance loans in West Bengal was 15% and 14% Tamil Nadu. The eight other states among the top ten are Bihar (10%), Karnataka
(8.5%). Maharashtra (7%), Assam (6.7%), Odisha (6.4%), Uttar Pradesh (6%), Madhya Pradesh (5.5%) and Kerala
(3.8%). According to Microfinance Plus, a report brought
out jointly by Sidbi and Equifax, the highest growth in MFI loans was recorded in Bihar followed by Assam.
In FY19, fresh loan disbursal stood at Rs 2.1 lakh crore, an increase of 36% over FY18, while disbursal in terms of volume grew 20%. NBFC-MFIs hold the largest share of portfolio in microcredit with a total loan outstanding of Rs 68,156 crore, accounting for 38% of the total industry portfolio.
Delinquency level improved across all the days past due categories. Portfolio at risk, which indicates the early delinquency rates, has comedown to1.4% in FY19 from 4.7% in FY18.

Source link


Please enter your comment!
Please enter your name here