Business Standard

Gross micro loans portfolio grows 20% in December quarter: Report

The coronavirus pandemic had impacted the microfinance sector as field agents were unable to visit borrowers to extend loans and also ensure timely repayments

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Press Trust of India Mumbai

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The gross micro loans portfolio grew 20 per cent to Rs 3.16 lakh crore in the quarter ended December 2022 as compared to the year-ago period, a report said on Friday.
The gross loan portfolio growth came at 5.5 per cent when compared to the September quarter, according to the report by credit information company Crif Microlend.
Delinquencies of advances overdue for over 90 days by value declined 1.7 per cent while as a percentage of overall advances, it was at 2 per cent at the end of December 2022 as against 2.7 per cent in the year-ago period.
The coronavirus pandemic had impacted the microfinance sector as field agents were unable to visit borrowers to extend loans and also ensure timely repayments.
The report said that non-bank finance companies continue to dominate the market with a 35.7 per cent share, followed by banks at 33.5 per cent and small finance banks at 16.9 per cent.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : MFIs loans

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First Published: Mar 31 2023 | 7:59 PM IST

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