Mumbai, Nov 23 (PTI) The outstanding portfolio of the microfinance industry stood at Rs 2.22 lakh crore as of June 30, with banks and NBFC-MFIs contributing more than 75 per cent, a Sidbi-Equifax report released on Tuesday said.

The (MFI) industry disbursed loans worth Rs 25,808 crore during April-June 2021 quarter, registering a robust year-on-year growth of 300 per cent by value and 209 per cent by volume.

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West Bengal, Tamil Nadu, Bihar, Karnataka and Uttar Pradesh are the top five states as of June 30, 2021, in terms of portfolio outstanding.

West Bengal was leading with a portfolio outstanding of Rs 31,024 crore, and 90+ delinquency of the state is 5.15 per cent, which is higher than the industry delinquency, it said.

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The report further said the 1-179 days past due delinquency has increased in June 2021 to 31.44 per cent from 13.59 per cent in March 2021. 30+ and 90+ delinquency of NBFC-MFIs, NBFC and not for profit MFIs is lower compared to the industry delinquency.

The analysis of borrower distribution by the number of loans and portfolio outstanding shows that 42 per cent of the customers have three or more loans, and only 15 per cent of the borrowers have portfolio outstanding of more than Rs 50,000, the report said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)