Total numbers of microfinance accounts were at 8.91 crore as of December 2018.
Mumbai: Aggregate loan portfolio of the microfinance industry grew at a healthy 43.1 percent to Rs 1,66,284 crore as of December 2018, according to a report. Loan amount includes portfolio of Rs 458 crore in Andhra and Telangana and stressed (DPD 180+) portfolio of Rs 8,787 crore. In the period to December 2017, total loan outstanding of the MFI industry was Rs 1,16,198 crore.
Total numbers of microfinance accounts were at 8.91 crore as of December 2018, showing a growth of 24.3 percent over the third quarter of FY18, according to a report released by the Microfinance Institutions Network. In the December quarter, 50 MFIN members collectively disbursed Rs 19,919 crore loans to 77 lakh accounts, it added.
MFIN chief executive Harsh Shrivastava said the industry overall continues to showcase strong growth rate with healthy portfolio quality. "The MFIs, especially NBFC-MFIs that hold the largest share in the micro-credit space, have shed off the impact of last years liquidity crunch and are focusing on steady growth in loan portfolio as well as number of clients in the coming quarters," he said.
As of December 2018, 74 NBFC-MFIs held the largest share of portfolio in micro-credit with total loan outstanding of Rs 60,631 crore, which is 36.5 percent of total micro- credit universe. Banks' microfinance portfolio stood at Rs 53,605 crore, showing a growth of 50 percent over last one year.
Small finance banks have a total loan amount outstanding of Rs 30,187 crore or 18.2 percent to the total. NBFCs account for another 10.7 percent and non-profit MFIs account for 2.4 percent of the universe. During the reporting quarter, NBFC-MFIs members received a total of Rs 8,235 crore in debt funding, an increase of 11 percent, the report said.