Microfinance Industry's Outstanding Portfolio Up 2 Percent To Rs 2,26,000 Crore In September Quarter

The outstanding portfolio of the microfinance industry registered a 2 per cent quarter-and-quarter growth to around Rs 2,26,000 crore as of September 2021, says a report.

The same stood at Rs 2,22,060 crore during the three months ended June 2021. The industry disbursed loans worth Rs 66,681 crore during July-September 2021 quarter, registering a robust Y-o-Y growth of 96 per cent by value and 94 per cent by volume, as per the joint report published by Small Industries Development Bank of India (SIDBI) and Equifax India.

It said the 90-plus days past due delinquency decreased to 2.95 per cent in September 2021 from 3.01 per cent in June 2021. Tamil Nadu, West Bengal, Bihar, Karnataka and Uttar Pradesh were the top five states in terms of portfolio outstanding, as of September 2021.

Tamil Nadu was the leading state with a portfolio outstanding of close to Rs 29,000 crore. Banks led the industry with the highest portfolio outstanding of around Rs 92,000 crore, followed by NBFC-MFIs at approximately Rs 80,000 crore, the report showed.

(PTI)