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Microfinance Industry Shows Faster Recovery Post Second Wave with Disbursements Growing by 96 Percent Y-o-Y for the Quarter Ending Sept’21: Equifax India-SIDBI Study
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                            Mumbai, Maharashtra, India:
                         The eleventh edition of “Microfinance Pulse”, a quarterly publication by Small Industries Development Bank of India (SIDBI) and Equifax India revealed that the outstanding portfolio of the Microfinance Industry has registered Q-o-Q growth of 2% as of Sept. 2021.The outstanding portfolio of Microfinance Industry was ~ INR 2,26,000 crore as of Sept. 2021. Microfinance Industry disbursed loans worth INR 66,681 crore during July-Sept 2021 quarter registering a robust Y-o-Y growth of 96% by value and 94% by volume from the corresponding quarter during July-September 2020. Moreover, 90+ days past due delinquency also decreased to 2.95% in Sept 2021 from 3.01% in June 2021. Tamil Nadu, West Bengal, Bihar, Karnataka and Uttar Pradesh were the top 5 states in terms of portfolio outstanding as of Sept 2021. Tamil Nadu is the leading state with a portfolio outstanding of ~ INR 29,000 crore. Banks lead the industry with the highest portfolio outstanding of ~ INR 92,000 crore followed by NBFC-MFIs with portfolio outstanding of ~ INR 80,000 crores.

On the launch, Shri Sivasubramanian Ramann, Chairman & Managing Director, SIDBI said, “Microfinance has evolved as an important financial delivery mechanism to promote financial inclusion. Due to the hardship and loss of livelihoods caused by the pandemic, the sector needs a renewed focus of all the stakeholders. The declining delinquency trends in the sector in Sept 2021 quarter is also encouraging for the future growth prospective.”

On the launch, Shri KM Nanaiah, Managing Director, Equifax Credit Information services Pvt. Ltd. and Country Leader, Equifax India and MEA said, “The faster recovery in Microfinance disbursements after the second wave of COVID impact clearly demonstrates the resilience of the industry in the country. We believe this eleventh edition of Microfinance Pulse report in collaboration with SIDBI will provide valuable insights on the emerging trends in the Microfinance industry.”

Microfinance Pulse aims to provide insights on trends in the Indian Microfinance industry – from disbursements to delinquencies to top growing states and top loan categories. The report is being published in 12 vernacular languages in addition to Hindi and English.

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About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 13,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.
 About SIDBI

Since its formation in 1990, SIDBI has been impacting the lives of citizens across various strata of the society through its integrated, innovative and inclusive approach. Be it traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, to high-end knowledge-based entrepreneurs, SIDBI has directly or indirectly touched the lives of Micro and Small Enterprises (MSEs) through various credit and developmental engagements. SIDBI 2.0 carries the vision of inclusive, innovative and impact-oriented engagements. 
To know more, check out: https://www.sidbi.in

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Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.
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