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Tamil Nadu became the largest state in outstanding microfinance loan

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Tamil Nadu replaced Bihar and West Bengal to become the largest state in terms of outstanding portfolio of microfinance loans. According to MFIN Micrometer Q4 FY21-22, a quarterly report published by Microfinance Institutions Network (MFIN), the gross loan portfolio (GLP) of Tamil Nadu as of March 31, 2022 stood at ₹36,806 crore. It was followed by Bihar (₹35,941 crore) and West Bengal (₹34,016 crore).

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At the end of Q3FY22, West Bengal topped the chart with the highest outstanding portfolio of loans at ₹32,880 crore, followed by Tamil Nadu (₹32,359 crore). The Top 10 States (based on total microcredit universe) constitute 82.4 per cent of total GLP of the industry. West Bengal was followed by Karnataka, Uttar Pradesh and Maharashtra. According to the report, around 64 per cent of the microfinance portfolio is concentrated in the East, Northeast, and Southern regions.

Important takeaways for all competitive exams: 

  • Tamil Nadu Capital: Chennai;
  • Tamil Nadu Chief Minister: MK Stalin;
  • Tamil Nadu Governor: RN Ravi.

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