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Indian Microfinance Sector in 2024
January 12 , 2025
17 hrs 0 min
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- The micro finance institutions (MFIs) industry in India has witnessed a high growth of more than 2,176 per cent in the past 12 years.
- Its business was climbing from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore as of November 2024.
- MFIs operate across 723 districts, including 111 aspirational districts, covering 28 states and 8 Union Territories.
- They cater to the financial needs of nearly 8 crore borrowers, contributing 2.03 per cent to the gross value added (GVA) to India’s GDP and supporting 1.3 crore jobs.
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