West Bengal is regaining its place as the largest state in terms of outstanding microfinance loans

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West Bengal has regained its place as the largest state in terms of outstanding microfinance loans, replacing Tamil Nadu, while Bihar remained in third place.

The outstanding microfinance loan in West Bengal at the end of December 2020 was Rs 34,853 billion, followed by Tamil Nadu’s 31,520 billion.

Three months ago, Tamil Nadu was on top at Rs 34,141 crore while West Bengal was at Rs 32,881 crore. Bihar had an outstanding loan of Rs 24,984 crore.

The top 10 states account for approximately 82% of the microfinance lending universe of Rs 2.33 lakh crore, which excludes bank lending to support groups.

The portfolio at risk over 30 days (PAR> 30) was 10.9% on December 31, 2020, a sharp deterioration from 2.42% in the same period last year, mainly due to the impact of the pandemic.

The sector served 5.83 billion individual borrowers through EUR 10.50 billion credit accounts. The entire microfinance industry had a total loan portfolio of Rs 2.32.648 billion at the end of December 2020.

According to MFIN data, 14 banks, including Bandhan Bank, hold the largest share of the microloan portfolio with outstanding loans of Rs 97,956 billion, which is 42.10% of sector loans. NBFC MFIs are the second largest microcredit provider with an outstanding loan amount of Rs 72,128 billion which is 31%. Small financial banks have a total loan amount outstanding of Rs 39.062 billion, accounting for 16.79%, while NBFCs and other MFIs make up the balance.

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