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21/10/2021 03:26pm

Micro-lending falls by 6.9 % in Apr-Jun qtr

image Micro-lending falls by 6.9 % in Apr-Jun qtr

New Delhi, 21 Oct (KNN) As per the latest data released by CRIF High Mark microfinance lending declined by 6.9 per cent due to the second wave of COVID-19 pandemic, as it hit MSME sector the hardest.

Although manufacturing units were allowed to function during the second way, the micro businesses remained shut for weeks.

The report stated that, the year-on-year (YoY) growth was less than one per cent from INR 2,34,100 crore last year.

Loans over INR 60,000 declined by only 2.5 per cent. Even in terms of year-on-year performance, the average ticket size managed to improve by only 0.9 per cent with the highest growth of 56.6 per cent witnessed in the less than INR 10,000-loan bracket.

According to CRIF, in terms of delinquencies, portfolio at risk (PAR) or proportion of portfolio delinquent by 31-180 days past due (30+ DPD), calculated as a percentage of total portfolio outstanding, was 15.4 per cent in June 2021, higher compared to 9.7 per cent in March 2021 for all ticket sizes and all lender types.

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