- Bihar has overtaken Tamil Nadu to become the state with the highest microlending borrowings in India as of March 2023, according to a report released.
- The report, published by credit information company Crif High Mark, highlighted Bihar’s impressive growth with a 13.5 percent increase in the gross lending portfolio during the March quarter compared to the previous quarter.
- The overall MFI portfolio outstanding witnessed substantial growth, reaching Rs 3.37 lakh crore by the end of March, reflecting a 17.9 percent increase.
- The report also highlighted an improvement in asset quality. The proportion of MFI loans overdue for over 90 days decreased to 1.1 percent in March 2023, compared to 2 percent in December 2022.
