Micro loans log 44% growth

Mumbai: The gross loan

portfolio of the microfinance sector grew 44 per cent to 26,150 crore in the June quarter. The loan portfolio stood at 27 per cent in the East, 33 per cent in the South and 20 per cent each in the West and North, acco

rding to a report by Microfinance Institutions Network, an industry association. Average loan amount disbursed per account remained under

15,000. Client coverage grew by 23 per cent with over 2.65 crore low income households across 493 districts getting micro- loans

from NBFC- MFIs.