Gross loan portfolio of Non-Banking Finance Company-Microfinance Institutions (NBFC-MFIs) soared 24 per cent to Rs 38,288 crore in the end of September quarter year-on-year, said an industry body. The NBFC-MFIs segment, according to MFIN, is expected to grow further on account improvement in loan disbursements and decrease in risk assets.
The aggregate gross loan portfolio (glp) of MFIs stood at Rs 38,288 crore at September-end, said Microfinance Institutions Network , the first RBI appointed Self- Regulatory Organisation (SRO) and an industry association. “This represents a Y-o-Y growth of 24 per cent over Q2 2016-17 and 11 per cent over the last quarter,” it said.
NBFC-MFIs disbursed 63.1 lakh loans in July-September period of 2017-18 which has risen by 2 per cent as compared to the corresponding period during last year. Commenting on the data, MFIN CEO Ratna Vishwanathan said the growth in loan disbursements as compared to last quarters reflects that the industry is now returning to normal.