The total loans portfolio managed by microfinance institutions (MFIs) in the country has grown 33 per cent to over Rs 48,882 crore at the end of March 2015, a report by MFI association Sa-Dhan has said.
The net loan portfolio on the books of the MFIs was Rs 39,028 crore in the previous fiscal, the report said.
The average loan per borrower has also increased to Rs 13,162 from the last year's Rs 10,079. NBFC-MFIs accounted for 88 per cent of the loans, followed by Societies and Trusts at 9 per cent, it said.
Interestingly, the top 10 MFIs including the likes of Bandhan, SKS and Janalakshmi contributed Rs 34,298 crore, which is 70 per cent of the total portfolio size.
"Of the total 250 million households of the country, credit from microfinance sector, through MFI and SHG routes, reaches nearly 100 million households. The urban portion has outstripped rural for the first time. This shows that MFIs are catering to migrants, slum-dwellers and unorganised sector in cities and towns," it said.
The growth rates for north eastern regions of the country has also risen, indicating that MFIs are expanding in remoter and difficult terrain.
The report said the total number of clients served by MFIs stood at 371 lakh as on 31 March, 2015.
Of the total client base, South India contributed to 39 per cent, followed by East (25 per cent), Central and West at 15 per cent and 11 per cent, respectively. North-East and North regions accounted for six per cent and four per cent of the base.
