ENA Sectors 2023-04-27 14:44:21 <p><span style="font-size:14px"><strong>New Delhi, Apr 27 (KNN)</strong> In the current financial year the microfinance industry (MFI) of India is expected to continue with around 25 per cent year-on-year (YoY) jump in assets under management (AUM), said CareEdge on Wednesday. </span></p> <p><span style="font-size:14px">This will be driven by steady disbursement growth and an improving macroeconomic environment, said the credit rating agency.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Due to the challenges posed by the Covid-19 pandemic the MFI experienced a slowdown in growth.</span></p> <p><span style="font-size:14px">However, growth rebounded in FY22, with NBFC-MFIs growing at 18 per cent Y-o-Y, supported by strong disbursements in the latter part of the fiscal year, and at 20 per cent in FY23. </span></p> <p><span style="font-size:14px">In the second quarter of FY23, NBFC-MFIs disbursements stood at Rs 17,260 crore, growing from Rs 13,181 crore in the fiscals first quarter. </span></p> <p><span style="font-size:14px">Moreover, the microfinance industry has experienced a shift in market share, with NBFC-MFIs overtaking banks for the first time in four years. <em><strong>(KNN Bureau)</strong></em></span></p> 33133 https://knnindia.co.in/news/newsdetails/sectors/indias-microfinance-industry-to-grow-25-in-fy24-careedge 2023-04-27 14:44:21 knnindia.co.in