New Delhi: 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 goes on to show that the microfinance industry, having reached its inflection point, is growing steadfastly,” P. Sathish, executive director of Sa-Dhan, said. That led to a shrinking of the asset base of the microfinance industry and a surge in bad loans. Of the total client base of 39.9 million, the southern region alone contributed to 39% of the total client base.

Source: Mint September 14, 2016 20:15 UTC