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

NBFC-MFIs, other than those under corporate debt restructuring witnessed a growth of 51% in their gross loan portfolio

Press Trust of India  |  Mumbai 

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Micro industry's gross loan portfolio (GLP) registered a growth of 35% to Rs 27,931 crore in FY2013-14 ended March 31.

The data was collected by Institutions Network (MFIN), an association for the micro 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% in their gross loan portfolio.

"The micro-industry has stabilised and grew by a healthy 35%. 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% over FY'13.

Loan disbursals rose 48% to Rs 34,968 crore as compared to FY13.

As of March 31, aggregate clients of NBFC-MFIs stood at 2.8 crore, up 20% over FY13.

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

NBFC-MFIs received total debt funding Rs 15,030 crore, 79% 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% came from the banks.

First Published: Fri, May 30 2014. 15:20 IST
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