NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The loan portfolio in south comprise a third of total.

The aggregate gross loan portfolio of microfinance institutions (MFIs) grew 47 per cent to Rs 28,810 crore in the second quarter ended on September 30, 2014 against the same period a year ago, according to data compiled by industry body Microfinance Institutions Network (MFIN).

According to the data released by MFIN, MFIs provided microcredit to over 27.9 million clients as on September 30, an increase of 23 per cent over the same period in the previous fiscal.