 "Micro finance industry's gross loan portfolio up 35% in FY14")
Micro finance industry's gross loan portfolio (GLP) registered a growth of 35% to Rs 27,931 crore in FY2013-14 ended March 31.
The data was collected by Microfinance Institutions Network (MFIN), an association for the micro finance industry which has 46 NBFC-MFIs as its members.
The report said NBFC-MFIs, other than those under corporate debt restructuring (CDR) witnessed a growth of 51% in their gross loan portfolio.
Medium size NBFC-MFIs with GLP greater than Rs 100-500 crore registered highest growth of 57% over FY'13.
Loan disbursals rose 48% to Rs 34,968 crore as compared to FY13.
As of March 31, aggregate clients of NBFC-MFIs stood at 2.8 crore, up 20% over FY13.
During the reporting period, average loan amount disbursed per account was Rs 14,343, an increase of 12% over the previous fiscal year.
NBFC-MFIs received total debt funding Rs 15,030 crore, 79% from the banks and rest from other financial institutions (FIs).
In FY'13, total debt funding stood Rs 10,115 crore, out of which 85% came from the banks.
The data was collected by Microfinance Institutions Network (MFIN), an association for the micro finance industry which has 46 NBFC-MFIs as its members.
The report said NBFC-MFIs, other than those under corporate debt restructuring (CDR) witnessed a growth of 51% in their gross loan portfolio.
Also Read
"The micro-finance industry has stabilised and grew by a healthy 35%. MFIN has implemented responsible lending by strictly ensuring the RBI's on extension of credit," the association's president Samit Ghosh said.
Medium size NBFC-MFIs with GLP greater than Rs 100-500 crore registered highest growth of 57% over FY'13.
Loan disbursals rose 48% to Rs 34,968 crore as compared to FY13.
As of March 31, aggregate clients of NBFC-MFIs stood at 2.8 crore, up 20% over FY13.
During the reporting period, average loan amount disbursed per account was Rs 14,343, an increase of 12% over the previous fiscal year.
NBFC-MFIs received total debt funding Rs 15,030 crore, 79% from the banks and rest from other financial institutions (FIs).
In FY'13, total debt funding stood Rs 10,115 crore, out of which 85% came from the banks.