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 30th June 17, NBFC-MFIs provided micro-credit to around 2.08 Cr clients*, an increase of 19% over Q1 fy 16-17.
▪ The aggregate gross loan portfolio (glp) of MFIs stood at Rs 35,045 Cr. This represents a yoy growth of 26% over Q1 fy 16-17 and 8% over the last quarter.
However, it is worth noting that this growth number is a factor of large number of delinquent accounts not getting closed.
▪ Loan amount disbursed in Q1 fy 17-18 increased by 21% compared to Q1 fy 16-17 reaching to Rs 11,959 Cr.
▪ Total number of loans disbursed by NBFC-MFIs remained flat in Q1 fy 17-18 compared with Q1 fy 16-17 at 55.82 Lakhs.
▪ Portfolio at Risk (PAR) 30 has as of Q1 fy 17-18 is 7.46%.
▪ Average loan amount disbursed per account was Rs 21,426, an increase of 21% from Q1 fy 16-17.
▪ MFIs now cover 29 states/union territories.
▪ In terms of regional distribution of portfolio (GLP), south accounts for 31% of the total industry portfolio, north for 26%, west for 22%, and east for 21%.
Current Out Reach
|Key Operational Statistics as on 30th September 2017.|
|Gross Loan Portfolio (Rs. Cr.)||182.05|
|BC Portfolio (From IDBI Bank)(Rs.Cr.)||31.5|
|No. of States||5|
|No. of districts||26|
|No. of Branches||93|
|No. of Active members||1,94,687|
|Loan Amount Disbursed during this period of 2017-18||176.79|
|Average O/S Loan (INR)||13,683|
|Regular Repayment Rate||98.46%|
|Number of Employees||505|
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 .
• Staff strength 520+CARE Ratings assigned a Rating‘BBB-/Stable’ to Jagaran on March 2017.
• 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.