Mumbai: Microfinance institutions in the country plan to raise incremental capital of around Rs 20,000 crore over the next 18 months, an industry association official announced here today.
The funds raised will be a mix of bank borrowing, investments from private equity players and through debt routes, R Bhaskar Babu, Vice President of Micro Finance Institutions Network, a microfinance sector association, told reporters here today.
"MFIs will be raising around Rs 15,000 through banks in the current fiscal. About Rs 2,000 crore will come from PE players and other multilateral institutions like IFC over 18 months," he said.
He said that micro-lenders will also raise Rs 2,000 crore to Rs 3,000 crore by way of issuing non-convertible debentures over the next 18 months.
According to an MFIN report, the gross loan portfolio grew by 61 per cent to Rs 40,000 crore in FY15.
MFIs attracted 84 per cent more debt funding in FY15 compared with previous fiscal.
Total disbursement in the previous fiscal year grew 55 per cent.
