Borrowers Taking Loans From MFIs Reach 32 Lakh
March 8, 2022 | Investopaper
The number of borrowers taking loans from microfinance institutions has reached around 32 lakh. As of the end of Poush 2078 BS, 31,70,635 members have taken loans from the micro-financial institution. Out of these, 97.38 percent are women and the rest are men.
Micro-financial Institutions (MFIs) have 56,28,865 members until the end of Poush. Such number stood at 54 lakh at the end of Ashad, 2078 BS.
The number of MFIs has been declining in recent years due to mergers and acquisitions. Accordingly, the number of MFIs has decreased from 70 to 67 by last Ashad. Out of 67 MFIs, 4 are wholesale microfinance companies while the remaining 63 are retail microfinance companies. Despite decline in MFIs, the number of branches has increased to 4,965.
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