MFIs Gross Loan Portfolio grows by 84% YoY in Q2 FY16-17: MFIN Report

PANAJI: Microfinance industry has witnessed an 84% year-on-year growth in aggregate gross loan portfolio of microfinance institutions in the second quarter of 2016-17, according to the recently released quarterly report by Microfinance Institutions Network (MFIN). There was an increase of 11% in the aggregate GLP from the last quarter.
In its 19th edition of the ‘Micrometer Report’ for July-Sept, MFIN observed that the microfinance industry’s total loan disbursements grew by 20% over the same period last year.
MFIN is a self-regulatory organization of the RBI-regulated non-banking financial institutions MFIs.
The aggregate Gross Loan Portfolio (GLP) of MFIs stood at Rs 57,941 crore in the second quarter of 2016-17 as compared to Rs 31, 551 crore last year. South India leads the way with 31% share in GLP followed by North at 28% and West at 25% and East contributing 16%. As of September 30, MFIs provided microcredit to over 3.3 crore clients, an increase of 54% over second quarter of 2015-16.