Non-banking financial companies-micro finance institutions (NBFC-MFIs) disbursed loans worth Rs 6,511 crore in Q1 of FY22 (through 1.79 million accounts)
The share of loans with over 30-day dues in micro credit by finance companies shot up 15.7 per cent in June 2021 from 4.5 per cent a year ago, showing adverse impact of Covid-19 on borrowers. Sequentially also, there was a rise from 9.2 per cent in March 2021, according to Microfinance Institutions Network (MFIN) data.
The review of performance by MFIN showed there was a marginal rise in over 90-day dues to 2.81 per cent in June 2021 from 2.3 per cent in June 2020, a quarter marked by the first wave of the pandemic.
However, sequentially, there was improvement from 5.4 per cent in March 2021.
First Published: Sep 14 2021 | 11:32 PM IST