New Delhi: MFIN has published the eleventh issue of the MicroMeter, a comprehensive data compilation which provides an overview of the Indian Microfinance industry as of 30th September 2014. It also highlights a comparative analysis with the corresponding quarter of the previous fiscal year (Q2 fy 13-14) and previous quarter (Q1 fy 14-15).
Some of the key highlights include:
- As of 30th September 2014, MFIs provided microcredit to over 27.9million clients, an increase of 23% over Q2 fy 13-14
- The aggregate gross loan portfolio (glp) of MFIs stood at Rs 288.1 billion (excluding non-performing portfolio i.e. PAR > 180 days in Andhra Pradesh which is close to Rs 29 billion). This represents a year on year growth of 47% over Q2 fy 13-14
- Disbursements (loan amount) in Q2 fy 14-15 increased by 61% compared to Q2 fy 13-14
- Total number of loans disbursed by MFIs grew by 35% in Q2 fy 14-15 compared with Q2 fy 13-14
- Funding to MFIs (in Q2 fy 14-15) grew by 172% compared with Q2 fy 13-14. Funding to group of large MFIs ( glp > Rs 5 bn) increased by 187%
- Portfolio at Risk (PAR) figures (PAR 30, 90, 180) remained under 1% for Q2 fy 14-15
- Average loan amount disbursed per account crossed the Rs 15,000 mark during this quarter to reach at Rs 15,858
- MFIs now cover 32 states/union territories
- MFIs’ coverage is now geographically well dispersed with glp in south at 32%, east at 27%, north at 21% and west at 20%
Broadly, the trend lines seen through 2013-14 are getting reinforced, practically across all business parameters. “My sense is that the current fiscal will not merely push the industry numbers to historic highs but strongly demonstrate what the industry is capable of, particularly in the overall context of financial inclusion agenda of the Government of India and the RBI,” said Alok Prasad, Chief Executive Officer, MFIN.