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  • Financial Express

NBFC-MFIs to continue see double-digit loan growth in FY24: CareEdge report

Microfinance sector: The favourable macroeconomic climate and renewed demand, which has led to a surge in disbursements over the past few quarters is expected to continue with the portfolio of NBFC-MFIs (non-banking financial company-microfinance institutions) likely to grow at 28 per cent year-on-year in the current financial year, said credit rating company CareEdge. NBFC-MFIs had surpassed banks in the overall microfinancing landscape, constituting approximately 40 per cent of the total outstanding microfinance loans as of March 31, 2023, compared to 34 per cent for banks.

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