Sequential challenging year stares at microfinance sector: Ind-Ra
ANI |
Updated: May 24, 2021 15:22 IST
Mumbai (Maharashtra) [India], May 24 (ANI): India Ratings and Research (Ind-Ra) said on Monday that collections for microfinance institutions (MFIs) and small finance banks (SFBs) are estimated to have declined 3 to 5 per cent in April and additional 5 to 7 per cent in first fortnight of May on a month-on-month basis.
The agency expects the overall microfinance sector to witness a shortfall of 10 to 15 per cent in collections on a consolidated basis this month. The variation among MFIs can be wider, depending on their level of concentration in regions where lifting of Covid lockdown restrictions is slow.