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.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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