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NBFC-MFIs’ assets under management to see up to 30% growth in FY24: Crisil
NBFC-MFIs' assets under management are expected to grow by up to 30 per cent in the current financial year, domestic rating agency Crisil said on Thursday.
The year will also see an improvement in asset quality and profitability for the Non-Bank Finance Companies-Microfinance Institutions (NBFC-MFI) segment, the agency said.
In a report, Crisil said the NBFC-MFI segment's Assets Under Management (AUM) stood at Rs 1.3 lakh crore at the end of March 2023, and the segment has the highest share in the overall microlending universe which also consists of small finance banks, universal banks and other lenders.
The overall AUM is expected to have touched Rs 3.4 lakh crore for the entire microlending universe and the growth in NBFC-MFIs has outpaced the same of other lenders.
The growth in the NBFC-MFIs segment has come on the back of pent-up demand for credit and increase in ticket-size of disbursements, the agency said.
Crisil's senior director Ajit Velonie said the market share of ...