As per a report by the Microfinance Institutions Network (MFIN) the gross loan portfolio (GLP) of microfinance institutions (MFIs) rose to 23 per cent across the country in 2012-13 with AP MFIs growing 7 per cent and non-AP MFIs witnessing a growth of 39 per cent.
Releasing the fifth issue of MicroMeter, which gives the status of the Indian microfinance industry as of March 31, Alok Prasad, CEO, MFIN, said that the loan disbursals during the year grew 13 per cent y-o-y. At a pan-India level, the MFIs witnessed a growth of 23 per cent during FY13, a strong bounce back from last year when growth had slumped to a negative 14 per cent.
This shows the inherent strength of the MFI business model and the need for micro-credit by BoP segment borrowers. The study is based on data collected from 41 non-banking finance companies-Micro Finance Institutions (NBFC-MFI), who are members of MFIN and represent 85 per cent of the microfinance business in the country, excluding SHGs.
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