Will provide trends on the Indian microfinance industry – from disbursements to delinquencies
Mumbai, May 15, 2019: Equifax, a global data, analytics, and technology company, and Small Industries Development Bank of India (SIDBI), collaborated to launch “Microfinance Plus” – a newsletter to track the lending trends in the microfinance sector. The first edition of the newsletter reported that NBFC-MFIs continue to maintain their market dominance with the market share of 38 percent in Q3-FY19. Gross loan portfolio (GLP) for the industry stood at Rs. 1,57,644 Cr as at end Q3 FY19, registering a Q-o-Q growth of seven percent.
On the occasion of the launch of the report, Shri. Mohammad Mustafa, IAS, Chairman & Managing Director, SIDBI said, “This newsletter is the result of the great synergy between SIDBI and Equifax. The publication will give an opportunity to look into the future prospects apart from being a repository of all that has taken place in the microfinance sector in the recent past. I hope the newsletter will act as an important reference point for the policy makers and practitioners in the microfinance sector and trust that the effort will bring value to the readers.”
“Equifax is the leading Microfinance bureau in the country, and has worked with the MFI industry to help maintain high levels of underwriting standards, said KM Nanaiah, managing director, Equifax Credit Information services Ltd. and Country Leader, Equifax India and MEA. “This collaboration with SIDBI brings a quarterly newsletter to provide insights on trends in the Indian Microfinance industry – from disbursements to delinquencies, from top growing states to top loan categories. This data will act as a lighthouse to help the microfinance industry and policymakers navigate through crests and troughs of lending cycle, thus further promoting responsible lending.”
Key newsletter highlights:
- The total number of active loans at end Q3-FY 19 were 8.22 crore showing a growth of 24 percent over the previous financial year
- Average ticket size of bank loan is highest at Rs. 40,434 whereas NBFC-MFIs loan being lowest at Rs.25,891
- 30+ delinquency for NBFCs at 2.5 percent is the highest in the industry in Q3 FY19
The reports also observed an increase in the number of loans disbursed is approximately 13 percent from Q3 FY18 to Q3 FY19. 30-40k loan category has witnessed the highest increase from 18 lacs loans disbursed in Q3 FY 18 to 29 lacs loans disbursed in Q3 FY 19, the disbursements have increased by 56 percent on a Q-o-Q basis from Q3 FY 18 to Q3 FY 19.
Microfinance Pulse a joint newsletter by Equifax and SIDBI aims to provide insights on trends in Indian Microfinance industry – from disbursements to delinquencies to top growing states and top loan categories.
Corporate Comm India(CCI Newswire)
