80 percent increase in loan disbursal by the microfinance industry

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MUMBAI: There has been an increase in disbursement of loans by the microfinance industry in the June quarter of the current financial year.

As compared to Rs 25,503 crore in the June quarter of financial year 2021-22, loans of Rs 45,830 crore have been disbursed by microfinance institutions in the current financial year i.e. June quarter of 2022-23. Which shows a growth of 80 percent.

The microfinance industry will witness an increase in loan disbursements in the current financial year due to favorable policy and branch expansion.

The number of loan disbursements also stood at 116 lakh in the June quarter as against 71 lakh in the June quarter last year.

The total loan portfolio of the microfinance industry stood at Rs 2,93,154 crore as of the end of June 30, 2022, a year-on-year increase of 24 percent, said a report by the Microfinance Institutions Network.

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