Micro-Finance institutions (MFIs) posted growth in loan demand in the third quarter of the current financial year. The loan disbursement aggregated Rs 6194 crore which is up by 22 per cent, against Rs 5089 crore in the preceding quarter (July- September).
According to a report by Microfinance Institutions Network (MFIN), MFIs outside Andhra Pradesh accounted 70% of the total loan disbursements in the third quarter.
The report of MFIN is based on data collection from 41 MFIs, which represents around 85 per cent of the microfinance sector in the country, excluding the self-help groups.
Non-Andhra Pradesh MFIs reported 31 per cent increase in loans at Rs 4345 crore against Rs 3310 crore in the preceding quarter. Tamil Nadu topped in loan disbursals at 28 per cent.