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India’s microfinance industry clocked 60% growth in fiscal 2016

microfinance crisis

After years of subdued growth, the Indian microfinance (MFI) industry expanded more than 60% to Rs54,329 crore in 2015-16 compared to the previous year, according to a report prepared by Sa-Dhan, the self regulatory organisation of MFIs.

The MFI client base expanded by 2.8 million in the year, taking the total number of clients to 39.9 million, said the report. This growth was despite the fact that Bandhan, which was the largest MFI, moved out of the space to become a full fledged bank.

For more on this story visit the following link: India’s microfinance industry clocked 60% growth in fiscal 2016

Source: Live Mint

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