MFIN has published the twelfth issue of the MicroMeter, a comprehensive data compilation which provides an overview of the Indian Microfinance industry, as of 31st December, 2014. It also highlights a comparative analysis with the corresponding quarter of previous fiscal year (Q3 fy 13-14) and previous quarter (Q2 fy 14-15). The analysis presented in this issue is based on data collected from 47 MFIN member NBFC–MFIs (MFIs), all of whom have either received or applied for NBFC-MFI registration from the RBI.
Highlights:
As of 31st December, 2014, MFIs provided microcredit to over 28.7 mn clients, an increase of 23% over Q3 fy 13-14
The aggregate gross loan portfolio (glp) of MFIs stood at Rs 314.5 bn (excluding non-performing portfolio i.e. PAR > 180 days in Andhra Pradesh which is close to Rs 29 bn). This represents a yoy growth of 51% over Q3 fy 13-14
Disbursements (loan amount) in Q3 fy 14-15 increased by 46% compared to Q3 fy 13-14
Total number of loans disbursed by MFIs grew by 33% in Q3 fy 14-15 compared with Q3 fy 13-14
Funding to MFIs ( in Q3 fy 14-15) grew by 162% compared with Q3 fy 13-14
Portfolio at Risk (PAR) figures (PAR 30, 90, 180) remained under 1% for Q3 fy 14-15
Average loan amount disbursed per account is now Rs 16,194
MFIs now cover 32 states/union territories
MFIs’ coverage is now geographically well dispersed with glp in south at 29%, east at 29%, north at 21% and west at 21%
Productivity ratios for MFIs continued to improve. Glp per branch is now at Rs 30.7 mn, up by 40% over Q3 fy 13-14
Insurance (credit life) to over 30.3 mn clients with sum insured of Rs 592.5 bn was extended through MFI network
Pension accounts were extended to over 1.6 mn clients through MFI network
“The 3rd quarter results are indeed most heartening. What we are witnessing is the sustained revival of the Microfinance industry – which augurs well for the national financial inclusion agenda. Given the current trend lines, I am confident that the industry will grow by over 40 % in GLP terms, this fiscal. With PMJDY driving opening of basic bank accounts and NBFC – MFIs driving the growth in Micro-credit, poor households are finally being able to access financial services in a much more comprehensive way.” said Alok Prasad, Chief Executive Officer, MFIN.
Thanks & Best Regards
Arjun Kaul