Connect with us

Hi, what are you looking for?

Micro Finance

Microfinance loans surge by 5.75% in Q2 FY 2024

Microfinance loans surge by 5.75% in Q2 FY 2024

According to the MFIN Micrometer report for Q2 FY 23-24, India’s microfinance loan portfolio stood at Rs 3,76,110 crore as of 30 September 2023, serving 7.1 crore unique borrowers with 13.9 crore loan accounts.

The Asset Under Management (AUM) of MFIs is Rs 1,33,963 crore, including owned portfolio Rs 1,09,462 croe and managed portfolio (off BS) of Rs 24,501 crore. The owned portfolio of MFIN members is 74% of the NBFC-MFI universe portfolio of Rs 1,47,829 crore.

Of the total microloans outstanding, the largest share of 39.3% is held by 91 NBFC-MFIs amounting to Rs 1,47,829 crore. Microfinance loans in India grew by 5.75% to Rs 76,054 crore during the second quarter of FY 2024, industry data showed. Last year, Rs 71.916 crore of loans were disbursed in the same period.

In terms of volume, a total of 1.69 crore were disbursed during Q2 FY2023-24, as against Rs 1.81 crore loans in Q2 FY 2022-2023.

Read more: 

India poised to become world’s third largest economy by 2030: S&P Global


PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.