Non-bank lenders continued to rule the microfinance universe with a growth of 21 percent recorded in the October-December quarter of the financial year 2023-24, data from industry body Sa-Dhan showed on April 1.
Sa-dhan is one of the largest industry body of microlenders with 220 members.
The outstanding credit to the microfinance (MFI) sector reached Rs 4 lakh crore by the end of 2023, the industry body showed in a report. “NBFC-MFIs continued to occupy the largest share in the pie of 40 percent and is followed by banks at 32 percent and small finance banks (SFBs) at 18 percent. There has been an overall improvement in the recovery position with the PAR 90 recording 1.04 percent,” Sa-Dhan said in a press release on April 1.
The total number of loan accounts serviced by micro lenders stands at 1,408 lakh, posting a on-year growth of 9 percent.
As per the report, the top five states in terms of portfolio include Bihar with Rs 58,706 crore, Tamil Nadu with Rs 53,304 crore, Uttar Pradesh with Rs 40,770 crore, Karnataka with Rs 37,427 crore and West Bengal with Rs 35,431 crore.
The average ticket size (ATS) for the industry in Q3 of FY24 stood at Rs 48,160, up 17 percent over the last year's Rs 41,267.
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