Microfinance loan portfolio rises 4.2% to Rs 2,37,369 cr

Mumbai: The microfinance industry's gross loan portfolio (GLP) rose 4.2 per cent to Rs 2,37,369 crore as of June 30, 2021, compared with Rs 2,27,727 crore as of June 30, 2020, according to a report by Microfinance Institutions Network (MFIN).

Microfinance loan disbursals during the first quarter of the financial year 2021-22 improved significantly to Rs 25,503 crore, compared with Rs 6,186 crore in the corresponding quarter last year. MFIN is an industry association comprising 58 NBFC-MFIs and 39 associates including banks, small finance banks (SFBs) and non-banking financial companies (NBFCs). It released the Micrometer report for the April-June 2021 quarter on Tuesday. The report showed that 13 banks hold the largest share of the portfolio in micro-credit with a total loan outstanding of Rs 1,02,405 crore, which is 43.14 per cent of the total micro-credit universe.