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Despite heavy headwinds, the macro picture looks promising
December 23, 2020
While the demand for credit is still there, disbursements are lower because of the increased focus on recovery, collections - Getty Images/iStockphoto
While the demand for credit is still there, disbursements are lower because of the increased focus on recovery, collections - Getty Images/iStockphoto×
Players, who were hobbled by multiple challenges through the year, are now buoyed by improving collections
The microfinance industry, which had seen its collection efficiency drop to as low as one per cent in April this year following the lockdown in the wake of Covid-19 pandemic, is crawling back to normalcy, albeit a bit slowly.
As pandemic pushes India’s microfinance sector to the brink, women are the first to fall
Loan disbursement by the sector fell by 97% in the April-June quarter compared to previous year. Representational image. | Arun Sankar/ AFP
In early March, 30-year-old Pinky Devi took out her latest small loan in the densely populated state of Bihar, where she lives with her husband and two sons.
Like the other sums of rural credit Devi has borrowed over the last 12 years, the Rs 100,000 did not go to her work as a seamstress but instead to her breadwinner husband.
Thirty-two-year-old carpenter Sunil Kumar Sharma needed to buy a motorcycle for his latest furniture business so he could zip around their village to take orders. Taking out the loan fell to his wife: In India, as it is around the world, most microfinancing is available primarily to women.
Loan disbursement by NBFC-MFIs dips 43% to Rs 10,617 crore in Q2
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This story is from December 15, 2020
Loan disbursement by NBFC-MFIs dips 43% to Rs 10,617 crore in Q2
PTI / Dec 15, 2020, 18:11 IST
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MUMBAI: Loan disbursement by non-banking financial companies-microfinance institutions (NBFC-MFIs) declined 43 per cent to Rs 10,617 crore in the quarter ended September as against Rs 18,565 crore in the same period of previous fiscal, according to a report by MFIN.
In the quarter ended June 2020, loan disbursement had declined 96 per cent to Rs 570 crore from Rs 15,865 crore in the corresponding quarter of the previous fiscal.
The data pertains to NBFC-MFI members of the Microfinance Institutions Network (MFIN), a self-regulatory organisation and industry association of the microfinance industry in the country.