![Indian Microfinance industry's Loan Book grows 10% to Rs 2.85 trn in FY22 Indian Microfinance industry's Loan Book grows 10% to Rs 2.85 trn in FY22](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0tUsYFr7Bk4F5HSh1NaSwGK01QoYUSp01E-MIoxKm5xthBsefRaE0HHvI9kQdWDonTwW9cA1ebWhcRQ3LMXx1FwPiFQEPTTQBfo-SCpTAHOAcpgSuIedzfgbgvTCZI2KONBqFC7rsC5uLs0EueN7UUxJH6SxE42esO2ctkJWpw9pgx9nlxyAC0xAURw/w320-h187-rw/Loan.jpg)
- Even though the number of unique borrowers served by the industry decreased to 58 million in March 2022 from 59.3 million a year ago, the loan accounts increased from 108.3 million in March 2021 to 113.1 million in March 2022.
- It is also supported by and Supreme Court’s verdict which clearly stated that NBFC regulation is the only purview of the RBI, which is a hugely positive trend. These have supported good growth in 2022-23.
- Due to this microfinance industry has shown good progress during Q4FY22, building on the momentum created in the third quarter ended December 2021.
- In addition to that, the loan portfolio of non-banking finance companies working as MFIs (NBFC-MFIs) expanded by 19.4% to Rs 96,561 crore at the end of March 2022 Compared to Rs 80,906 crore as of March 31, 2021.
- However, banks continue to be the main contributors with a share of 40% in March 2022, down from about 43.67% a year ago.
Question:
Q.1 As per a recent report Micro Finance Industry has grown to _______ trn in FY2022.a. 3.52trn
b. 2.85 trn
c. 5.21 trn
d. 4.12 trn