This translates into Rs 33,000 crore of NPAs.
“The recovery has improved as compared to the last quarter and has reached almost 99% in some states. However, there are still some geographical areas where collection is below normal. For example, the collection efficiency in Assam is 50-55% Sa-Dhan said in its quarterly report.
Assam, West Bengal, Kerala, Tripura and Chhattisgarh are among the major states that have shown below average recovery and there is a strain on overall asset quality.
The total sectoral NPAs are around 12% at the end of June 2022, but NBFC-MFIs as a group have 9% of their portfolio of Rs 9,7849 crore as NPAs.
The sector has grown by 24% year-on-year to Rs 2.76 lakh crore from Rs 2.22 lakh crore at the end of June.
“The sector has overcome the hardships of the pandemic and is now on track. Although it was busy implementing the new reserve Bank of India The regulations have seen a healthy development during Q1,” said Sa-Dhan Executive Director GG Maimon.
“Although money flow to the sector has improved, there is still some small MFI It is difficult to get money from banks. We are working towards bridging this gap.”
Barring banks, the portfolios of all lenders registered double digit growth. Non-bank lenders have shown a jump of 55% in outstanding loans, followed by NBFC-MFIs, small finance banks and non-profit MFIs, which have registered a growth of 35%, 28% and 21%, respectively.