Micro finance industry's gross loan portfolio up 35% in FY14

Micro finance industry's gross loan portfolio (GLP) registered a growth of 35 per cent to Rs 27,931 crore in FY'2013-14 ended March 31.

The data was collected by Microfinance Institutions Network (MFIN), an association for the micro finance industry which has 46 NBFC-MFIs as its members.

The report said NBFC-MFIs, other than those under corporate debt restructuring (CDR) witnessed a growth of 51 per cent in their gross loan portfolio.

"The micro-finance industry has stabilised and grew by a healthy 35 per cent. MFIN has implemented responsible lending by strictly ensuring the RBI's on extension of credit," the association's president Samit Ghosh said.

Medium size NBFC-MFIs with GLP greater than Rs 100-500 crore registered highest growth of 57 per cent over FY'13.

Loan disbursals rose 48 per cent to Rs 34,968 crore as compared to FY'13.

As of March 31, aggregate clients of NBFC-MFIs stood at 2.8 crore, up 20 per cent over FY'13.

During the reporting period, average loan amount disbursed per account was Rs 14,343, an increase of 12 per cent over the previous fiscal year.

NBFC-MFIs received total debt funding Rs 15,030 crore, 79 per cent from the banks and rest from other financial institutions (FIs).

In FY'13, total debt funding stood Rs 10,115 crore, out of which 85 per cent came from the banks.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi’s latest ban on 260 entities plugs a major loophole for stock manipulation

    Last week, the capital market regulator, Securities and Exchange Board of India (Sebi) banned 260 entities from dealing in the securities market for m

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Nuances in managing joint ventures

This is an age of collaboration. A seemingly simple device ...

Kuruvilla Pandikattu SJ

Finding the missing child of Christmas

Christmas is basically the feast of a helpless child. The ...

Shona Adhikari

Why Indian art auctions are here to stay

With Christie’s second India sale just over in Mumbai, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture