Performance Overview:
Microfinance Universe (based on loans originated after February 2017)
- As on March 31, 2023, the microfinance industry served 6.6 crore unique borrowers, through 13.0 crore loan accounts. The overall microfinance industry currently has a total Gross Loan Portfolio (GLP) of INR 3,48,339 crores.
- GLP as on March 31, 2023, showed an increase of 22.0 per cent YoY over INR 2,85,441 crores as on March 31, 2022.
- 82 NBFC-MFIs are the largest provider of micro-credit with a loan amount outstanding of Rs 1,38,310 Cr, accounting for 39.7% to total industry portfolio. 13 Banks hold the second largest share of portfolio in micro-credit with total loan outstanding of Rs 1,19,133 Cr, which is 34.2% of total micro-credit universe. SFBs have a total loan amount outstanding of Rs 57,828 Cr with total share of 16.6%. NBFCs account for another 8.5% and Other MFIs account for 1.0% of the universe.
- The microfinance active loan accounts increased by 14.6% during the past 12 months to 13.0 crores as on March 31, 2023.
- In terms of regional distribution of GLP, East & Northeast and South account for 63% per cent of the total portfolio. Bihar is the largest state in terms of portfolio outstanding followed by Tamil Nadu and Uttar Pradesh.
MFIN NBFC-MFIs Members
- AUM of NBFC-MFIs stood at INR 1,31,163 crores as on March 31, 2023, a 38.7 percent YoY rise as compared to INR 94,570 crores as on March 31, 2022.
- The AUM includes owned portfolio INR 1,07,232 Cr and managed portfolio (off BS) of INR 23,931 Cr.
- As on March 31, 2023, NBFC-MFIs, on an aggregated basis, have a network of 18,739 branches with 1,61,010 employees.
- Loan amount of INR 1,30,563 crores was disbursed in FY 22-23 through 3.1 Cr accounts, as compared to INR 81,936 crores disbursed in FY 21-22 through 2.2 Craccounts.
- Average loan amount disbursed per account during FY 22-23 was Rs 42,010 which is an increase of around 12.9% in comparison to the last financial year.
- During FY 22-23, NBFC-MFIs received a total of Rs 74,787 Cr in debt funding, which is 59.2% higher than FY 21-22.
- Total equity of the NBFC-MFIs grew by 25.4 per cent YoY to INR 26,332 crores as on 31 March 2023.
New Delhi, June 13, 2023: Microfinance Institutions Network (MFIN), the microfinance industry association and an RBI recognized self-regulatory organization, today released the 45th issue of its Micrometer report for financial year ending March 31, 2023 i.e., Q4 FY 22-23.
Speaking on the 45th Issue of Micrometer for Q4 FY 22-23, Mr Devesh Sachdev, Chairperson – MFIN said,
“Microfinance industry reached INR 3,48,339 Cr at the end of FY 22-23 with a YoY growth of 22.0%. During FY 22-23 NBFC-MFIs emerged as the largest provider of Microfinance in India with their share increasing to 39.7% at the end of FY 22-23 from 35.2%. Share of East and North East fell continuously over the last FY, reaching 34.9% from 37.7% as on March 31, 2022. South and North region gained more than 1% each. Bihar has emerged as the largest state in terms of portfolio outstanding replacing Tamil Nadu.New loans disbursed after COVID have performed much better than loans originated before COVID, as shown by sharp decline in PAR 1-60 days bucket from 4.25% on March 31, 2022, to 1.57% on March 31, 2023.
March 31, 2023 marks the completion of first year of Regulatory Framework for Microfinance loans, 2022 – issued by RBI. This was a significant change, and the industry has reacted positively, as evidenced by the increase in portfolio size and quality.”
