In FY23, the microfinance industry lent Rs. 3.48 trillion.

In the Financial Year 2022–2023 (FY23), the microfinance industry gave loans totallingRs 3.48 trillion to 660 million customers, according to a report.

According to a report published by the Microfinance Industry Network (MFIN), regulated entities (REs) received the majority of credit from non-banking finance companies-microfinance institutions (NBFC-MFI).

As of March 31, 2023, the NBFC-MFI sector had disbursed Rs 138,310 crore in loans. Banks, with a loan portfolio worth Rs 119,133 crore, came next. When combined, the two industries accounted for 73.90 percent of all loans made by microfinance organizations. With loans of Rs 57,828 crore, Small Finance Banks (SFBs) made up the third-largest sector.