Mumbai, December 24, 2021: Microfinance industry (MFI) is one of the most important paradigms of the Indian financial sector due to its grass-root coverage and its overarching vision of providing credit to the relatively unbanked sections of the society-but by no means un-bankable- thereby creating meaning and value in the lives of the people. This transformative effort constitutes an integral part of the mainframe economics and the well-being of the overall society. The amount of loan disbursed, dipped in the wake of the devastating COVID pandemic. However, the number of SHG’s with saving linkage increased from about 100 lakhs to about 112 lakhs.
The All-India NPA as percentage to loan outstanding under SHG-BLP declined from 5.19% in 2018-19 to 4.73% in 2020-21.
West Bengal retained its spot as the largest state in terms of portfolio outstanding (Rs34,587 crore) followed by Tamil Nadu and Bihar (Rs35,312 crore and Rs26,997 crore respectively). Among top 10 states, West Bengal had the highest average loan outstanding per unique borrower of Rs 54,159 followed by Assam at Rs48,697.