Micrometer Q4 FY 23-24 Press Release

Microfinance loan portfolio stands at INR 4,33,697 Crores as on Mar 31, 2024, serving 7.
8 crore
unique borrowers with 14.9 crore loan accounts: MFIN Micrometer Q4 FY 23-24
Microfinance loan disbursals during FY 23-24 progressed to INR 3,35,473 crores as compared to
INR 2,96,423 crores in the last financial year. 7.26 Cr loans were disbursed during FY 23-24 as
against 7.17 Cr in FY 22-23.
Performance Overview:
Microfinance Universe (based on loans originated after February 2017)

• As on Mar 31, 2024, the microfinance industry served 7.8 crore unique borrowers, through 14.9
crore loan accounts. The overall microfinance industry currently has a total Gross Loan
Portfolio (GLP) of INR 4,33,697 crores.
• GLP as on Mar 31, 2024, showed an increase of 24.5 per cent YoY over INR 3,48,339 crores as
on Mar 31, 2023.
• 87 NBFC-MFIs are the largest provider of micro-credit with a loan amount outstanding of Rs
1,70,903 Cr, accounting for 39.4% of total industry portfolio. 14 Banks hold the second largest
share of portfolio in micro-credit with total loan outstanding of Rs 1,44,022 Cr, which is 33.2%
of total micro-credit universe. SFBs have a total loan amount outstanding of Rs 74,278 Cr with
total share of 17.1%. NBFCs account for another 9.3% and Other MFIs account for 0.9% of the
universe.
• The microfinance active loan accounts increased by 15.4% during the past 12 months from 13.0
crores as on Mar 31, 2023.
• In terms of regional distribution of GLP, East & Northeast and South account for 62% per cent
of the total portfolio. Bihar remains 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 1,56,884 crores as on Mar 31, 2024, a 29.5 percent YoY rise as
compared to INR 1,21,102 crores as on Mar 31, 2023.
• The AUM includes owned portfolio INR 1,26,243 Cr and managed portfolio (off BS) of INR
30,641 Cr.
• As on Mar 31, 2024, NBFC-MFIs, on an aggregated basis, have a network of 20,348 branches
with 1,83,842 employees.
• Loan amount of INR 1,38,297 crores was disbursed in FY 23-24 through 3.1 Cr accounts, as
compared to INR 1,11,161 crores disbursed in FY 22-23 through 2.7 Cr accounts.
• Average loan amount disbursed per account during FY 23-24 was Rs 45,024 which is 9.9% higher
in comparison to the last financial year.
• During FY 23-24, NBFC-MFIs received a total of Rs 89,308 Cr in debt funding, which is 29.1%
higher than FY 22-23.
• Total equity of the NBFC-MFIs grew by 39.0 per cent YoY to INR 34,435 crores as of Mar 2024.
New Delhi, June 07, 2024: Microfinance Industry Network (MFIN), the microfinance industry
association and an RBI recognized self-regulatory organization, today released the 49th issue of its
Micrometer report for quarter ending March 31, 2024 i.e., Q4 FY 23-24.
1
Speaking on the 49th Issue of Micrometer for Q4 FY 23-24, Dr Alok Misra - CEO & Director, MFIN
said,
Consistent growth of microfinance sector continued for this year as well. The portfolio of sector
grew by 25.4% on YoY basis. Banks which reported sluggish growth of 4.5% in portfolio last year
have reported a much healthier growth of 20.9% this year. NBFC-MFIs on the other hand reported
a relatively lower growth of 23.6% in portfolio this year as compared to 37.7% last year.
Regional distribution of portfolio has changed substantially in the last year. South has almost
caught up with East and North-East. As on 31 March 2023, East and North-East contributed 35% of
portfolio and South contributed 28% whereas as on 31 March 2024, East and North-East contributes
32% of portfolio closely followed by South at 31%.
Another important development noticed in the last financial year is the considerable increase of
39% in equity of MFIN member NBFC-MFIs. This additional equity has brought Debt to Equity ratio
for this set of NBFC-MFIs down from 3.6 as on March 31, 2023 to 3.2 as on March 31, 2024. This will
allow the entities to leverage and expand their operations in the coming years.

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Microfinance loan portfolio stands at INR 4,33,697 Crores as on Mar 31, 2024, serving 7.

Microfinance Universe (based on loans originated after February 2017)

MFIN NBFC-MFIs Members

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