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SIDBI and leading bureau Equifax launches Microfinance Pulse

Thursday, May 16, 2019

(L-R) Manoj Mittal, Deputy Managing Director, SIDBI, Mohammad Mustafa, IAS, Chairman & Managing Director, SIDBI and K.M. Nanaiah, Managing Director, Equifax Credit Information services Ltd. and Country Leader, Equifax India and Middle East and Africa at the launch of Microfinance Pulse.

Small Industries Development Bank of India (SIDBI) and Equifax, collaborated to launch a first-of-its-kind newsletter “Microfinance Pulse” to track the lending trends in the microfinance sector. The first edition of the newsletter reported that Non-Banking Financial Company – Microfinance Institutions (NBFC-MFIs) continue to maintain their market dominance with the market share of 38% in third quarter of financial year 2018-19 (Q3-FY19). Gross Loan Portfolio (GLP) for the industry stood at Rs. 1,57,644 crore as at end Q3-FY19, registering a quarter-on-quarter (Q-o-Q) growth of 7%.

On the launch of the report, Mohammad Mustafa, IAS, Chairman & Managing Director, SIDBI said, “This newsletter is the result of the great synergy between SIDBI and Equifax. The publication will give an opportunity to lookinto the future prospects apart from being a repository of al that has taken place in the microfinance sector in the recent past. I hope the newsletter will act as an important reference point for the policy makers and practitioners in the microfinance sector and trust that the effort will bring value to the readers.”

K.M.Nanaiah, Managing Director, Equifax Credit Information services Ltd. and Country Leader, Equifax India and Middle East and Africa said, “Over the years, Equifax, as the leading Microfinance bureau in the country, has worked with the MFI industry to help them maintain high levels of underwriting standards. Now, with its partnership with SIDBI, Equifax brings a quarterly newsletter “Micro?nance Pulse” to provide insights on trends in Indian Micro?nance industry – from disbursements to delinquencies, from top growing states to top loan categories. This data will act as a lighthouse helping the microfinance industry and policymakers navigate through crests and troughs of lending cycle, thus further promoting responsible lending.”
 

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