Indian Microfinance Sector: 2,100% Growth in 12 Years
| Aspect | Details |
|---|---|
| Growth (2012-2024) | Increased from ₹17,264 crore to ₹3.93 lakh crore (over 2,100% growth). |
| Geographic Reach | Operates in 723 districts, including 111 aspirational districts across 28 states and 8 Union Territories. |
| Borrowers | Serves approximately 8 crore borrowers. |
| Contribution to GVA | Contributes 2.03% to India's gross value added (GVA). |
| Job Support | Supports about 1.3 crore jobs. |
| Challenges | Difficulties in raising low-cost long-term funds and portfolio quality concerns. |
| Recommendations | Credit guarantee schemes for MFIs, special funds for North East, and relaxation of qualifying asset norms. |