Microfinance loan disbursals in the second quarter of the fiscal shot up by 107.6 per cent to ₹64,899 crore as compared to ₹31,261 crore in the same quarter last fiscal.
According to industry body MFIN’s Micrometer report for July to September 2021 quarter, the number of loans disbursed during the quarter increased to 1.85 crore from 88 lakh a year ago.
Alok Misra, CEO and Director, MFIN noted that microfinance operations seem to be returning to normalcy after the difficult phase of the second wave of the pandemic.
“The second quarter of the fiscal saw growth of portfolio as well as an improvement in portfolio quality. This trend of improvement is expected to continue in the coming quarters,” he said.
GLP growth
The gross loan portfolio (GLP) of the overall microfinance industry grew 5.16 per cent to ₹2,43,737 crore as on September 30, 2021 compared to ₹2,31,778 crore as on September 30, 2020.
As on September 30, 2021, the microfinance industry served 5.65 crore unique borrowers through 10.52 crore loan accounts, the report further said.
The GLP of NBFC-MFIs grew 15.45 per cent to ₹81,408 crore as on September 30, 2021 as compared to ₹70,512 crore a year ago.
As much as ₹19,672 crore of loans was disbursed in the second quarter by NBFC-MFIs through 54.26 lakh accounts as compared to ₹8,155 crore disbursed a year ago through 25.99 lakh accounts.
Average loan amount disbursed per account by NBFC-MFIs during the second quarter stood at ₹36,251 which is an increase of around 15.54 per cent in comparison to the same quarter of last financial year.