India’s microfinance sector sees 60% growth in FY16
The Indian microfinance (MFI) industry expanded over 60% to ₹54,329 crore in 2015-16, against the previous year, a report released on Wednesday stated. Further, the MFI client base widened by 28 lakh in this period, taking the total number of clients to 3.99 crore. Growth continued despite Bandhan, the largest MFI, moving out to become a bank, the report added.