Budget 2020

‘NBFC-MFI disbursals plunge 96%’

Loan disbursements by non-banking financial companies-microfinance institutions (NBFC-MFIs) declined 96% to ₹570 crore in the first quarter of the current financial year, according to a report by Microfinance Institutions Network (MFIN).

It had stood at ₹15,865 crore in the corresponding quarter of the previous year. The data pertains to NBFC-MFI members of MFIN, an industry association of the microfinance sector. Analysis of NBFC-MFIs is based on data collected from 54 members registered with the Reserve Bank of India, MFIN said.