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Loan Disbursals
Loan disbursals by microfinance companies increased 19 per cent to Rs 77,877 crore during December quarter 2022-23, said the MFIN Micrometer. The total microfinance loan portfolio increased to Rs 3.21 lakh crore as on December 31, 2022, the report said. "Microfinance loan disbursals during Q3 FY 22-23 improved to Rs 77,877 crore as compared to the same quarter of last financial year (Rs -65,392 crore). 189 lakh loans were disbursed during Q3 FY 22-23 as against 165 lakh in Q3 FY 21-22, indicating higher ticket size of new loans," it said. It further said that as on December 31, 2022, the microfinance industry served 6.4 crore unique borrowers, through 12.6 crore loan accounts. "The overall microfinance industry currently has a total Gross Loan Portfolio (GLP) of Rs 3,20,584 crore. GLP as on December 31, 2022, showed an increase of 25.2 per cent YoY over Rs 2,56,058 crore as on December 31, 2021," the report said. As per the 44th issue of MFIN Micrometer, 83 NBFC-MFIs were the larg
Digital financial services firm One97 Communications on Monday said that its loan disbursals reached an annualised run rate of around Rs 39,000 crore in November this year. One97 Communications (OCL), which owns Paytm brand, had reported loan disbursals at an annualised run rate of around Rs 37,000 crore in October. "Our loan distribution business (in partnership with top lenders) continues to witness an accelerated growth with disbursements through our platform now at an annualised run rate of Rs 39,000 crore in the month of November," Paytm said in a regulatory filing. The GMV (Gross Merchandise Value) processed through Paytm platform grew 37 per cent for the two months ended November 2022, aggregating to Rs 2.28 lakh crore from Rs 1.67 lakh crore a year ago. The value of loans disbursed through Paytm grew by over four-fold on year-over-year (y-o-y) basis to Rs 6,292 crore in November from Rs 1,328 crore, while the number of loans disbursed grew two-and-a-half times to around 68
Personal retail loan disbursements recorded an impressive growth of 42 per cent from March 2021 to March 2022, reflecting an improvement in overall economic and business sentiment, said a joint study by Equifax and Andromeda. The number of active personal loans increased from 3.5 crore as of March 2020 to 4 crore by March 2021, and to 6 crore by March 2022, it added. The book size of personal loans rose from Rs 5 lakh crore as of March 2020 to Rs 6 lakh crore as of March 2021 and further to Rs 8 lakh crore as of March 2022. "This is a strong indicator of the revival in consumption in the country," said K M Nanaiah, Managing Director, Equifax Credit Information Services Pvt Ltd and Country Leader, India & MEA, Equifax. The total portfolio outstanding of retail industry increased from Rs 71 lakh crore (March 2020) to Rs 80 lakh crore (March 2021), and further to Rs 89 lakh crore as of March 2022. Private banks experienced the highest growth of portfolio outstanding with a 32 per ..
Mahindra & Mahindra Financial Services (Mahindra Finance) on Friday said it has disbursed over Rs 2,000 crore for the second time in a row in August. In August 2021, the business continued its momentum with a disbursement of more than Rs 2,000 crore for the second month in a row. The total disbursement at about Rs 2,150 crore delivered 57 per cent year on year growth, albeit on a lower base of August 2020, which was impacted by the first wave of COVID-19, Mahindra Finance said in a release. The collection efficiency was reported at nearly 97 per cent for August 2021, further improving to 95 per cent in July 2021. Collection efficiency in April, May and June was 72 per cent, 67 per cent, 90 per cent, respectively. "With the opening of the economy and improved mobility, the company witnessed a meaningful reduction in the NPA (non-performing assets) contracts during the month as customer cash flows improved. "We believe that this is a very encouraging sign. The company expects this