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MFIN Micrometer Q1 FY 22-23: Microfinance loan portfolio stands at INR 2,93,154 Crores as on June 30, 2022, serving 6.0 crore unique borrowers with 11.8 crore loan accounts

Microfinance Institutions Network (MFIN), the microfinance industry association and an RBI recognized self-regulatory organization, today released the 42nd issue of its Micrometer report for quarter ending June 30, 2022 i.e., Q1 FY 22-23.

 

 

Speaking on the 42nd Issue of Micrometer for Q1 FY 22-23, Dr Alok Misra – CEO & Director, MFIN said, After the announcement of harmonized regulations for microfinance in Mar’22, most institutions took some time in making policy changes and adapting to the new guidelines, but the industry was still able to record a growth of 23.5% in portfolio on a YoY basis and 2.7% over the previous quarter, which should see further strengthening in the coming quarters with supportive operating and regulatory environment. Improvement in microfinance portfolio quality over the last one year has been good, with delinquency as measured by PAR>30 ratio, reducing to 13.8% as on 30th Jun’22 from 22.4% as on 30th Jun’21. The sector now caters to nearly 6 crore women entrepreneurs and is playing a critical role in inclusive growth as well as furthering the mission of Digital India.”

 

MFIN Chairperson, Mr Devesh Sachdev stated, “During the first quarter, the sector was occupied with the implementation of new harmonized regulations of the RBI. Despite that the growth has been good and credit quality of post-Covid disbursements are at 95% plus. During the remaining period of FY 22-23, riding on robust branch expansion, pent up demand and conducive policy, the sector is poised for sustainable growth.”

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