Banking News

Micro loan disbursement jumps 20% in December 2022 quarter to Rs 77,877 cr

Micro loan disbursement jumped about 20% in the December 2022 quarter to Rs 77,877 crore over Rs 65,392 crore in the year ago period, backed by 14% rise in the number of new borrowers.

This helped the microfinance industry grow 25% year-on-year to Rs 3.31 lakh crore at the end of December last year, data released by Microfinance Institutions Network showed.

The industry served 6.4 crore unique borrowers through 12.6 crore loan accounts. The number of active loan accounts grew almost 19% as compared to 14% rise in the number of borrowers.

In terms of regional distribution of gross loans, east & northeast and south account for 63% of the total portfolio. Bihar is the largest state in terms of portfolio outstanding followed by Tamil Nadu and West Bengal.

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