Report: India’s Microfinance Industry Posts 38% Growth in 2018-19
The microfinance industry’s gross loan portfolio (GLP) stood at ₹1,87,386 crore at the end of March, up 38 per cent year-on-year, said a MFIN report Monday.
The total number of microfinance accounts was 9.33 crore at the end of March 2019, showing a growth of 21.9 per cent, said Microfinance Institutions Network (MFIN), an RBI-recognised self-regulatory organisation and industry association of the microfinance industry.
Non-Banking Finance Company-Microfinance Institutions (NBFC-MFIs) hold the largest share of portfolio in micro-credit with the total loan outstanding of ₹68,868 crore, which is 36.8 per cent of total micro-credit universe.
Photo courtesy of Satish Krishnamurthy.