India’s microfinance institutions see gross loan growth of 69% in the previous quarter
Monday, August 31, 2015
Microfinance institutions (MFIs) saw a healthy 69 per cent growth in their gross loan portfolio at Rs 42,106 crore in the April June quarter compared to that in the same period of last year. Gross loan portfolio of micro lenders stood at Rs 24,975 crore in the first quarter of the previous fiscal. It was at Rs 38,412 crore in the quarter ended March 2015.
“For giving a more realistic industry status, gross loan portfolio numbers shown are after excluding non performing portfolios in Andhra and SKS portfolio in Andhra”, Microfinance Institutions Network (Mfin) said in a report. Mfin is the self regulatory organisation of RBI regulated NBFC MFIs. The analysis is based on data collected from 52 NBFC MFIs, all of which have either received or have applied for NBFC MFI registration to RBI.