About Micro Finance
Microfinance is an important tool of financial inclusion as well as poverty alleviation. The movement was initiated by NABARD for unbanked population known as SHG. The microfinance sector started evolving with participation from private sector leading to formation of MFI. RBI has granted priority sector status of microfinance in 2000-01. Following which the sector witnessed rapid growth in loan disbursement due to large scale access to funds through debt and equity.
Some key highlights are as under:
▪ As of 31st March 2018, 2.53 Cr clients* have loan outstanding from NBFC-MFIs, which is an increase of 25% over Q3 FY 16-17.
▪ The aggregate gross loan portfolio (GLP) of MFIs stood at Rs 48,094 Cr as on 31st Mar 2018. This represents a YoY growth of 50% as compared to 31 March 2017 and 14% in comparison to 31 December 2017.
▪ Loan amount of Rs 59,629 Cr was disbursed in FY 17-18, representing an increase of 49% as compared to FY 16-17.
▪ NBFC-MFIs disbursed 67 Lakh loans during Q3 FY 17-18, an increase of 7% over Q2 FY 17- 18.
▪ Average loan amount disbursed per account during Q3 FY 17-18 was Rs 22,388, an increase of 23% from Q3 FY 16-17.
▪ During Q3 FY 17-18, NBFC-MFIs received a total of Rs 6,945 Cr in debt funding, growth of 70% compared to Q3 FY 16-17.
▪ Portfolio at Risk (PAR) > 30 as on 31 Dec 2017 is 5.98%. This does not include BFIL data..
▪ MFIs now cover 30 states/union territories.
▪ In terms of regional distribution of portfolio (GLP), East and North East accounts for 32% of the total NBFC MFI portfolio, South 28%, North 15%, West 14% and Central contributes 11%
Current Out Reach
|Key Operational Statistics as on 31st May 2018.|
|Gross Loan Portfolio (Rs. Cr.)||265.20|
|BC Portfolio (From IDBI Bank)(Rs.Cr.)||22.64|
|No. of States||5|
|No. of districts||28|
|No. of Branches||108|
|No. of Active members||2,44,756|
|Loan Amount Disbursed during this period of 2018-19||76.66|
|Average O/S Loan (INR)||15,172|
|Regular Repayment Rate||99.59%|
|Number of Employees||625+|
Rating & Grading
• Jagaran has been assigned Grade S3 (Good) as Social Rating by M2I in 2016 (a renowned Social Rating agency).
• It has received Grading “AA” in Code of Conduct Assessment (CoCA) conducted by ACCESS-ASSIST in 2016.
• CARE Ratings assigned a grading ‘MFI 2’ in July 2017 .
• CARE Ratings assigned a Rating‘BBB-/Stable’ to Jagaran on April 2018.
• Jagaran received Skoch Order-of-Merit award in September 2016.
Service Excellence: Provide unfailing service at the right place and at the right time.
Product Offering: Listen to the market and offer practical solutions.
Support and Guidance: Understand problems and assist members whenever required.