Microfinance in India

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INVC,,

Delhi,,

National Bank for Agriculture and Rural Development (NABARD) has reported that bank loan of Rs. 3732.33 crore has been disbursed to 581 Micro Finance Institutions (MFIs) during the year 2008-09 and as on 31.3.2009, the loan outstanding stood at Rs. 5009.09 crore against 1915 MFIs. The loans were for lending to the poor both in the urban and rural areas by the MFIs.

Further, NABARD has reported that under the Self Help Group-Bank Linkage Programme, as on 31 March 2009, there were more than 61.21 lakh saving-linked SHGs and more than 42.24 lakh credit-linked SHGs and thus about 8.6 crore poor households have been covered under the programme. The deposits outstanding from these Groups stood at Rs. 5545.62 crore and loans outstanding stood at Rs. 22679.85 crore.

This information was given by Minister of State for Finance, Shri Namo Narain Meena.

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