Question

    Micro Finance Institutions Network (MFIN) has released a

    data regarding loans disbursed by non-banking companies acting as Micro Finance Institutions (NBFC-MFIs).Which of the following statements is/are correct regarding the given information- I.According to Micro Finance Institutions Network (MFIN) data, loans disbursed by non-banking companies acting as Micro Finance Institutions (NBFC-MFIs) rose by 45.8 percent year-on-year to Rs 34,234 crore in April-June 2023 (Q1 FY24). II.NBFC-MFIs received a total of Rs 15,708 crore in debt funding in Q1 FY24, which is 65.7 per cent higher than in Q1 FY23. III.   Banks contributed the most, with a share of 64.5 per cent of the total borrowing received, followed by non-bank entities at 13 per cent,  External Commercial Borrowings at 12 per cent and All India Financial Institutions at 6.4 per cent.
    A Only I & II Correct Answer Incorrect Answer
    B Only II & III Correct Answer Incorrect Answer
    C Only I Correct Answer Incorrect Answer
    D Only II Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to Micro Finance Institutions Network (MFIN) data, loans disbursed by non-banking companies acting as Micro Finance Institutions (NBFC-MFIs) rose by 45.8 percent year-on-year to Rs 30,398 crore in April-June 2023 (Q1 FY24) as against Rs 20,845 crore in April-June 2022 (Q1 FY23).    Sequentially, however, the disbursements were much lower compared to Rs 41,490 crore in January-March 2023 (Q4 FY23), the final quarter of the financial year ended March 2023 (FY23).   NBFC-MFIs received a total of Rs 15,708 crore in debt funding in Q1 FY24, which is 65.7 per cent higher than in Q1 FY23. Banks contributed the most, with a share of 64.5 per cent of the total borrowing received, followed by External Commercial Borrowings at 13 per cent, non-bank entities at 12 per cent and All India Financial Institutions at 6.4 per cent.

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