07 Jan 2014 Economic Times Edition: Page 11
Credit information company ECIS on Monday said the delinquency rate of micro-finance institutions (MFIs) has declined by 20% between April and October 2013.
“Delinquency rate by the number of accounts that are more than 30 days outstanding has declined 20% from 1% in April to 0.8% in October 2013,” Equifax Credit Information Services (ECIS) said in a report.
Earlier this year, ECIS had reported that delinquency by number of accounts that are more than 30 days due had declined by more than 33% from more than 1.5% in mid-2012 to around 1% in April 2013.
“Seeing the continued decline in delinquency rates gives us confidence that our MFI members are benefitting from ECIS’ credit bureau data,” its MD and chief executive Sanjay Patel said.
