Tamil Nadu tops in microfinancing sector: CRIF High Mark official

Tamil Nadu stood on top in the country in availing loans through micro-finance, accounting for 10-12 per cent of total lending portfolio of Rs.one lakh crore, an official of credit information firm CRIF High Mark said today.

Grihashakti, a National Housing Bank registered housing finance company in India and a wholly owned subsidiary of Fullerton India Credit Company Limited, on Monday announced the launch a home loan product specially designed for women – ‘Grihalakshmi’. (Reuters image for representation only)

Tamil Nadu stood on top in the country in availing loans through micro-finance, accounting for 10-12 per cent of total lending portfolio of Rs.one lakh crore, an official of credit information firm CRIF High Mark said today. A total of 72 lakh women and their households had availed Rs 12,000 crore so far and of this Rs 900 crore in Coimbatore region, CRIF High Mark Senior Business Development Manager (India-Banking and Insurance) Natarajan Kumar told reporters here.

India was the biggest market for micro finance, which provided an alternative to extend loans to underserved people with the goal of promoting financial inclusion, bringing 4.5 crore women and their households, he said.

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CRIF High Mark caters to all borrower segments – MSME and Commercial borrowers, Retail consumers, Microfinance borrowers.

It provides analytics, data management and related software solutions promoting a more mature credit culture in the Indian economic system and sustaining the financial needs of businesses and consumers, the company said.

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