Micro loan disbursals during the June quarter improved sharply to Rs 45,830 crore as compared with Rs Rs 25,503 crore seen in the same period a year ago. The number of loans disbursed rose to 1.16 crore against 71 Lakhs in the same period.
The sector serves 6 crore unique borrowers through 11.8 crore loan accounts.
Bandhan Bank and 11 other banks together hold the largest share of the micro loan portfolio with a total loan outstanding of Rs 1.13 lakh crore. NBFC-MFIs are the second largest provider of micro-credit with a loan amount outstanding of Rs 1.03 crores, accounting for 35% of the total industry portfolio.
Small finance banks have a total loan amount outstanding of Rs 49,646 crore with a total share of 16.9% while NBFCs account for another 8.8% and other MFIs account for 0.9% of the universe.
“Most institutions took some time in making policy changes and adapting to the new harmonised guidelines, but the industry was still able to record a growth of 23.5% in portfolio on a year-on-year basis and 2.7% over the previous quarter, which should see further strengthening in the coming quarters with a supportive operating and regulatory environment,” MFIN chief executive Alok Misra was quoted as saying in a statement issued by the industry body.
MFIN is an association of 56 NBFC-MFIs and 41 associates including banks, small finance banks and NBFCs.