CURRENT AFFAIRS : BANKING & FINANCE
Microfinance loan portfolio increased by 22% to Rs 3.48 lakh crores in FY’23
- As per the data released by the microfinance institutions network (MFIN), Microfinance loan portfolio increased by 22% to Rs 3.48 lakh crores during 2022-23.
Key Highlights :
- Gross loan portfolio stood at Rs 2.85 lakh crores as on March 31, 2022.
- Microfinance loan disbursals during FY 2022-23 improved by 23% to Rs 2,96,423 crores compared to Rs 2,39,433 crore in the previous financial year.
- About 7.17 crore loans were disbursed during FY 22-23 as against 6.30 crore in the previous year indicating higher ticket size of new loans, microfinance institutions network (MFIN), the microfinance industry association and an RBI-recognized self-regulatory organization.
