Tamil Nadu has highest average outstanding loan amount per account in microfinance sector
Bihar continues to be the largest state in terms of portfolio outstanding followed by Tamil Nadu and Uttar Pradesh in the microfinance sector. Among the top 10 states, Tamil Nadu has the highest average loan outstanding per account of ₹31,131 followed by West Bengal at ₹30,488, as per the data.
'Tamil Nadu is one of the oldest states with microfinance presence. The loan size and loan outstanding in the past was generally a factor of client vintage and their repayment performance and with every new cycle a borrower would get a higher loan amount. So naturally, the client vintage in Tamil Nadu is higher than other states and which explains the higher average loan outstanding,' Alok Misra, CEO and Director, MFIN, said.
Tamil Nadu's Gross State Domestic Product (GSDP) for the financial year 2024-25 is estimated at ₹17.23 lakh crore, according to the Union Ministry of Statistics and Programme Implementation and is the 2nd ranked state in terms of contribution to the GDP of India. Further as per Economic Survey of Tamil Nadu 2024-25, Per Capita Income of Tamil Nadu in 2022-23 was ₹2.78 lakh, 1.6 times the national average of ₹1.69 lakh and was ranked as the fourth-largest state in terms of per capita income, he pointed out.
This also shows a higher loan absorption capacity of microfinance borrowers in the state, which reflects in the high average loan outstanding per account. Still then it is only marginally higher than the All India average loan outstanding of ₹28,285, Mr. Misra said.
'Among the top 10 states with the highest outstanding loans, four—Bihar, Tamil Nadu, West Bengal and Karnataka have above average outstanding loan amount. While the differences among these states are relatively narrow, Tamil Nadu stands out with the highest average outstanding loan amount. This is largely driven by a consistent trend of higher disbursements in larger loan sizes in recent months. Additionally, the growing credit maturity of Microfinance Institution (MFI) borrowers in Tamil Nadu has further contributed to this trend,' Ramkumar Gunasekaran, Director and Head of Sales, CRIF High Mark, a credit bureau.
The Gross Loan Portfolio (GLP) of the microfinance industry in Tamil Nadu stood at ₹46,689 Crore as on March 31, 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
a day ago
- News18
Disaster management mock drill carried out in 5 districts of Haryana
Chandigarh, Aug 1 (PTI) A field-level, multi-agency disaster management mock drill was carried in five districts of Haryana on Friday, officials said. The Haryana Department of Revenue and Disaster Management, in collaboration with the National Disaster Management Authority (NDMA), conducted a large-scale mock drill titled 'Exercise Suraksha Chakra' across �Gurugram, Faridabad, Rewari, Palwal, and Nuh. The full-scale exercise, aimed at testing the response mechanism during natural and industrial disasters such as earthquakes and chemical hazards, was successfully carried out at 21 strategic locations including educational institutions, government buildings, hospitals, and key commercial spaces among others. Haryana's Financial Commissioner (Revenue) Sumita Misra lauded the execution of the exercise. She noted the commendable coordination among multiple stakeholders, including the Haryana Home Guards, Aapda Mitra volunteers, Red Cross, National Cadet Corps (NCC), National Service Scheme (NSS), Nehru Yuva Kendra Sangathan (NYKS) volunteers and several NGOs. The drill followed the incident response system (IRS) framework to evaluate communication flow, resource mobilisation, inter-agency coordination and real-time decision-making processes during a crisis. The initiative demonstrated the state's ability to respond to large-scale emergencies through unified action by the administration, security forces, medical services and community volunteers, an official statement said. Misra emphasised that the lessons from this exercise would be documented and integrated into the state's disaster management framework to enhance institutional readiness. She reaffirmed the government's commitment to developing a robust, technology-enabled disaster response system that ensures the safety of life and property. PTI SUN OZ OZ view comments First Published: August 01, 2025, 18:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
3 days ago
- Time of India
Delay in shifting of power substation holds up key Hero Honda Chowk link
Gurgaon: GMDA CEO Shyamal Misra has asked officials to expedite utility shifting work that's holding up the upgrade of the 2.2km stretch between Hero Honda Chowk and Umang Bharadwaj Chowk. Chairing a review meeting on Wednesday, Misra directed HVPNL officials to submit an estimated cost of relocation of an electrical sub-station within the project alignment. Under the project, NHAI will widen the 2.2km stretch into a six-lane corridor along with a service road and a flyover at Umang Bharadwaj Chowk. The land was handed over to HVPNL in May this year. However, the power distribution agency is yet to submit the estimate for shifting the 66kV power substation to NHAI, delaying the redevelopment project. NHAI officials said work on relocating drainage and HVPNL's transmission line has already begun, and the shifting of water supply and sewage lines will be taken up soon. "We are aiming to complete the utility shifting within the next six months," said an NHAI official. You Can Also Check: Gurgaon AQI | Weather in Gurgaon | Bank Holidays in Gurgaon | Public Holidays in Gurgaon "However, the substation must be shifted early so that we can start civil construction by March next year without further delays," the official added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Couple Wonders Why Their Photo Went Viral Till They Go Through The Comments Learn More Undo During the meeting, NHAI officials said Dakshin Haryana Bijli Vitran Nigam (DHBVN) already submitted the estimate of Rs 4.8 crores for shifting high-tension (HT) power lines, one of the key hurdles in the renovation plan. The highway authority is also awaiting a court decision on the removal of a shop that's obstructing around 30 metres of the stretch on the proposed alignment. The next hearing on the matter has been scheduled on Oct 20, but NHAI has now moved a petition for an early hearing. "We have already filed a petition seeking early disposal of the matter related to the removal of the structure obstructing around 30 metres of the stretch," an NHAI official said. Another challenge flagged is the presence of the Himgiri Ashram on the alignment. Officials said a duty magistrate has now been appointed to oversee proceedings related to the removal of this roadblock. The 2.2 km road stretch is a critical link between Hero Honda Chowk and Umang Bharadwaj Chowk, connecting key residential and industrial zones. Commuters have faced congestion and pothole-ridden roads due to the lack of upgrading. Approved in 2017, as part of a broader plan to upgrade the 5.6 km stretch between Hero Honda Chowk and Dwarka Expressway, over the years, the revamp project faced repeated delays due to indecision on the design and modality, casting a shadow on the upgradation of this key stretch linking the Delhi-Gurgaon Expressway to the Dwarka Expressway.
Indian Express
4 days ago
- Indian Express
‘Exercise Suraksha Chakra': Emergency mock drill to be conducted across 5 districts in Haryana on August 1. Here are the details
The Haryana Department of Revenue and Disaster Management, is joining hands with the Disaster Management Authority (NDMA) to conduct a full-scale mock drill across Southern Haryana on August 1, Dr. Sumita Misra, the state's Financial Commissioner, Revenue, said on Tuesday. The drill, titled Exercise Suraksha Chakra, will take place in the districts of Gurugram, Rewari, Faridabad, Nuh, and Palwal on Friday. Dr Misra stated that the mock drill is part of a four-day initiative ending on August 1, that aims to assess real-time emergency response across the National Capital Region (NCR). The exercise is conducted to strengthen and assess emergency response capabilities in the face of large-scale disasters such as earthquakes and industrial chemical hazards, she said. The exercise involves participation from Haryana, Uttar Pradesh, and Delhi across 18 districts, alongside the involvement of the Indian Army's Headquarters (HQ) Western Command and HQ Delhi Area. 'The exercise aims to strengthen inter-agency coordination, validate existing disaster management plans, and rigorously test real-time emergency response capabilities through a unified approach involving administration, armed forces, emergency services, and community stakeholders, Incident Response System (IRS) across all levels, strengthen Emergency Support Functions (ESFs), identify resource gaps,' Dr. Misra added. The exercise will unfold in phases. On July 30, a table top exercise, designed to test response to a potential emergency situation, will be conducted simultaneously at Manekshaw Centre in Delhi and other venues across NCR to discuss scenarios and formulate Incident Action Plans. The exercise will culminate on August 1 with a full-scale mock exercise conducted simultaneously across all participating districts, featuring live simulations at five sites per district: a school, government building, residential area, hospital, and industrial zone. She said that District Disaster Management Authorities (DDMAs) have received directives to activate Emergency Operations Centres and conduct pre-mock awareness campaigns, ensuring the clear demarcation of staging areas, medical aid posts, relief camps, and safe evacuation routes. They are also tasked with actively involving Aapda Mitra, Red Cross, National Cadet Corps (NCC), National Service Scheme (NSS), Nehru Yuva Kendra Sangathan (NYKS) volunteers, other NGOs, and are also responsible for coordinating extensively with local stakeholders. Importantly, all risky real-life simulations for civilians will be avoided, with trained personnel from the National Disaster Response Force (NDRF), State Disaster Response Force (SDRF), and Fire Services conducting all rescue operations, Dr. Misra stated. During the upcoming mock drill, sirens will sound at 9:00 am, initiating the drill, followed by immediate evacuation procedures, Dr. Misra added. Following the exercise, a state-level debriefing and feedback session, chaired by senior officers, will be held to evaluate the exercise. Observers will provide performance reviews and self-assessment reports to identify strengths, weaknesses, and areas for improvement, with a comprehensive final report, including videos and photographs, to be compiled for future reference. This is, however not the first time, the Millennium City is getting involved in mock drills. In May, voluntary blackouts were conducted across the city, to test civil preparedness in the wake of escalating tensions between India and Pakistan following the terrorist attack in Pahalgam.
