Microfinance loan disbursals during FY24 progressed to Rs 3,35,473 crore as compared to Rs 2,96,423 crore in the last financial year, shows the latest report prepared by the Microfinance Industry Network (MFIN).
Further, the report said 7.26 crore loans were disbursed during FY24 as against 7.17 crore in FY23.
The overall microfinance industry currently has a total Gross Loan Portfolio (GLP) of Rs 4,33,697 crores. Gross loan portfolio as on March 31, 2024, showed an increase of 24.5 per cent YoY over Rs 3.48 lakh crore.
As per the report, the microfinance loan portfolio was recorded at Rs 4.3 lakh crore as on March 31, 2024.
Microfinance loan disbursals during FY23-24 progressed to Rs 3.35 lakh crore as compared to Rs 2.9 crore in the last financial year. About 7.26 crore loans were disbursed during FY23-24 as against 7.17 crores in FY 22-23.
About 87 NBFC-MFIs are the largest provider of micro-credit with a loan amount outstanding of Rs 1.7 lakh crore, accounting for 39.4 per cent of total industry portfolio, the report said.
The report further highlighted that approximately 14 banks hold the second largest share of portfolio in micro-credit with total loan outstanding of Rs 1.44 lakh crores, which is 33.2 per cent of total micro-credit universe.
SFBs have a total loan amount outstanding of Rs 0.74 lakh crores with total share of 17.1 per cent. NBFCs account for another 9.3 per cent and other MFIs account for 0.9 per cent of the universe, the report added.
Giving the regionwise breakage, the report said, East and Northeast and South account for 62 pet cent of the total portfolio. Bihar remains the largest state in terms of portfolio outstanding followed by Tamil Nadu and Uttar Pradesh.
The Assets under Management (AUM) of NBFC-MFIs stood at Rs 1.56 lakh crore as on March 31, 2024, a 29.5 per cent YoY rise as compared to Rs 1.21 lakh crore in the previous year, highlighted the MFIN report.
The AUM includes owned portfolio Rs 1.26 lakh crores and managed portfolio (off BS) of Rs 0.3 lakh crore.
Loan amount of Rs 1.38 lakh crore was disbursed in FY23-24 through 3.1 crore accounts, as compared to Rs 1.1 lakh crore disbursed in FY22-23 through 2.7 crore accounts, the report said.