Microfinance Industry poised for growth with disbursements increasing 11% Y-o-Y for the quarter ending Sept’22: Equifax-SIDBI study
MUMBAI, April 04, 2023:
The 15th edition
of “Microfinance Pulse”, a quarterly publication by Small Industries
Development Bank of India (SIDBI) and Equifax India revealed that the
disbursements by value witnessed annual growth of 11% JAS’21 to
JAS’22. Not for Profit MFIs witnessed highest growth in terms of
disbursement amount and in terms of number of loan disbursed, NBFCs
are leading by 63% from JAS’21 to JAS’22. Highest number of loans are
issued under 30k-40k ticket size category and it witnessed annual
growth of 13% from JAS’21 to JAS’22.
The outstanding portfolio
of Microfinance Industry was ~ INR 2,71,350 crore as of Sept. 2022.
Moreover, 90+ days past due delinquency also decreased by 68 bps Y-o-Y
in September 2022 from September 2021. As on 30th September 2022, top
10 districts contribute 9% towards total portfolio outstanding of
microfinance industry. Bihar, Tamil Nadu, West Bengal, Uttar Pradesh,
Karnataka are top 5 states.
On the launch, Shri KM Nanaiah,
Managing Director, Equifax Credit Information services Pvt. Ltd. and
Country Leader, Equifax India and MEA said, “Withstanding Covid-19
impact with tremendous grit, Micro Finance Industry has been an
enabler in promoting the financial inclusion agenda and fostering
economic and social development in the country. We are certain that
the 15th edition of Microfinance Pulse report in collaboration with
SIDBI will provide valuable insights on the emerging trends in the
Microfinance industry”.
On the launch, Shri Sivasubramanian
Ramann, Chairman & Managing Director, SIDBI said, “Microfinance
Industry is pivotal in delivery of essential financial services,
particularly credit services, to the unbanked / underbanked small
entrepreneurs. The industry has been at the centre for developing
financial discipline amongst rural / semi-urban population, thus
furthering the agenda of Financial Inclusion. With every edition of
the MFI Pulse, in collaboration with Equifax, SIDBI aims to highlight
the key trends of the industry for various stakeholders and policy
makers”.
Microfinance Pulse aims to provide insights on trends
in the Indian Microfinance industry – from disbursements to
delinquencies to top growing states and top loan categories. The
report is being published in 12 vernacular languages in addition to
Hindi and English.
ABOUT EQUIFAX INC.
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information, visit Equifax.com.
About SIDBI
Since its formation
in 1990, SIDBI has been impacting the lives of citizens across
various strata of the society through its integrated, innovative
and inclusive approach. Be it traditional, domestic small
entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end
knowledge-based entrepreneurs, SIDBI has directly or indirectly
touched the lives of Micro, Small and Medium Enterprises (MSMEs)
through various credit and developmental engagements. SIDBI 2.0
carries the vision of inclusive, innovative and impact-oriented
engagements.
To know more, check out: https://www.sidbi.in