As per the report released by Microfinance Institutions Network (MFIN), the microfinance loan has grown by 10 percent YoY to Rs 2.56 lakh crore at the end of December 2021.
The industry organization said that microfinance operations have witnessed a gradual growth post-second wave of COVID-19 in the first part of this fiscal year. The industry has served 5.57 crore, unique borrowers, through 10.58 crore loan accounts.
At the end of 2021, 13 banks collectively were holding the largest share of the microloan portfolio with the total loan amounting to Rs 1.04 lakh crore, which is 40.4 percent of the total microfinance universe. NBFC-MFIs are the second-biggest provider of micro-loans with a collective loan outstanding of Rs 87,444 crore, accounting for a 34.2 percent share.
