New Delhi, Aug 23 (KNN) The lending in the form of microfinance by the Non-Banking Finance Companies as well as from the Microfinance Institutions, registered growth of over 26 per cent in the first quarter of the current fiscal, the Micrometer report revealed.

According to the report authored by Microfinance Institutions Network (MFIN), the self-regulatory body of the Reserve Bank regulated banking institutions; the NBFCs-MFIs have collectively registered growth of 26 per cent over the same quarter of last year.

Citing number, the report said that the microfinance industry stood at 106,823 crore in Q1 FY18. NBFC-MFIs' share in the micro credit business stands at 31 per cent with loan portfolio of Rs 32,820 crore.

It further said that the banks have come the largest facilitator of micro-credit. At present the outstanding amount of loans with the banks is around 38,386 crores accounting for over 36 per cent of the total share.

Commenting upon the increase in loan amount, the report added that there is an increase of 21 per cent in loan amount year on year.  Also the new report suggests that there has been a sharp decline of debt funding by 20 per cent.

With regard to the expansion in client base, the NBFC-MFIs registered a high of 19 per cent in its number of clients, standing at  2.08 crore towards the end of the first quarter of this fiscal. (KNN/ DA)