Loan disbursals by microfinance companies increased 19 per cent to Rs 77,877 crore during December quarter 2022-23, said the MFIN Micrometer.
The total microfinance loan portfolio increased to Rs 3.21 lakh crore as on December 31, 2022, the report said.
"Microfinance loan disbursals during Q3 FY 22-23 improved to Rs 77,877 crore as compared to the same quarter of last financial year (Rs -65,392 crore). 189 lakh loans were disbursed during Q3 FY 22-23 as against 165 lakh in Q3 FY 21-22, indicating higher ticket size of new loans," it said.
It further said that as on December 31, 2022, the microfinance industry served 6.4 crore unique borrowers, through 12.6 crore loan accounts.
"The overall microfinance industry currently has a total Gross Loan Portfolio (GLP) of Rs 3,20,584 crore. GLP as on December 31, 2022, showed an increase of 25.2 per cent YoY over Rs 2,56,058 crore as on December 31, 2021," the report said.
As per the 44th issue of MFIN Micrometer, 83 NBFC-MFIs were the largest provider of micro-credit with a loan amount outstanding of Rs 1,23,386 crore, accounting for 38.5 per cent to total industry portfolio.
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During Q3 FY 22-23, NBFC-MFIs received a total of Rs 15,951 crore in debt funding, which is 22.5 per cent higher than Q3 FY 21-22. Total equity of the NBFC-MFIs grew by 28.6 per cent YoY to Rs 24,897 crore as on December 31, 2022.
"By end of this quarter, NBFC-MFIs have emerged as the largest provider of microfinance services followed by banks, who were the largest providers until the last quarter," said Alok Misra, CEO and Director, MFIN (Microfinance Institutions Network).
"It is an encouraging sign that all regulated entities have registered healthy growth on a YoY basis during Q3 FY 22-23. Further, Bihar has emerged as the state with largest microfinance portfolio," he added.
In terms of regional distribution of GLP, East and Northeast, and South account for 63 per cent of the total portfolio. Bihar is the largest state in terms of portfolio outstanding followed by Tamil Nadu and West Bengal.
MFIN is an RBI recognized self-regulatory organization for the industry.