Total disbursements (value terms) grew 273.4 per cent to Rs 23,796 crore in Q1 FY2022, from Rs 6,372 crore disbursed in the year-ago period. However, disbursements declined 73 per cent in the April-June quarter, compared with Rs 88,517 crore in the March 2021 quarter.
Braving the COVID-19 pandemic impact, the microfinance sector was quick to recover to the pre-pandemic level by the fourth quarter of FY2021, said the report released by credit information bureau CRIF High Mark on Wednesday.
”However, with COVID-19 second wave and the re-implementation of lockdown in several parts of the country, the sector took a major blow again in Q1 FY22, with a steep decline in disbursements and high delinquencies,” it said. Portfolio at risk (PAR) 30+ days past due (DPD) stood at 15.4 per cent in the first quarter compared with 1.6 per cent in the same quarter of the previous fiscal. PAR 90+ DPD stood at 3.3 per cent against 0.7 per cent in the same quarter of FY2021, the report said.
