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Defying muted credit growth in the banking sector, the microfinance sector registered a growth of around 39 per cent on a year-on-year basis, with the total outstanding loan amount at Rs 1,480 billion at the end of June 2018, according to data released by Microfinance Institutions Network (MFIN).
According to data from the Reserve Bank of India, gross bank credit increased by 11.07 per cent in June on a year-on-year-basis, while microcredit grew by 48.3 per cent.
Over the past few months, most MFIs (microfinance institutions) have been recovering from the after-effects of demonetisation and government-mandated debt waivers.
However, with the majority of
