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Indian Micro Finance sector grows by over 2,100% in 12 yrs

The Indian micro-finance sector has experienced significant growth, expanding over 2100% in the last 12 years, as reported by the Microfinance Institutions Network (MFIN). From March 2012 to March 2024, the sector's gross loan portfolio increased from Rs 22,443 crore to Rs 4,33,697 crore. This growth is attributed to the sector's resilience and adaptability, particularly in response to challenges like the Andhra Pradesh crisis and the Covid-19 pandemic. The number of lenders has also risen from 76 to 244, and the client base has grown from 2.7 crore to 7.6 crore. The sector's success is further highlighted by its ability to maintain a low portfolio at risk, demonstrating effective risk management and operational efficiency.

Read the Full ThePrint Article at:
[ https://theprint.in/economy/indian-micro-finance-sector-grows-by-over-2100-in-12-yrs/2437592/ ]