Bihar Surpasses Tamil Nadu as State with Highest Microlending Borrowings

Bihar Surpasses Tamil Nadu as State with Highest Microlending Borrowings

Daily Current Affairs   /   Bihar Surpasses Tamil Nadu as State with Highest Microlending Borrowings

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Category : State Published on: July 10 2023

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  • Bihar has overtaken Tamil Nadu to emerge as the state with the highest microlending borrowings as of March 2023.
  • The report, published by credit information company CRIF High Mark, highlights Bihar's impressive growth with a 13.5 per cent increase in the gross loan portfolio during the March quarter compared to the previous quarter.
  • As of March 2023, Bihar’s microfinance (MFI) borrowings amounted to Rs 48,900 crore, accounting for 14.5 percent of the overall portfolio. 
  • Meanwhile, Tamil Nadu’s MFI borrowings stood at Rs 46,300 crore, representing 13.7 percent of the total outstanding. 
  • This significant shift in rankings reflects Bihar’s rising prominence in the microfinance sector.
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