April 24, 2017
Tamil Nadu tops among the States in distribution of micro-finance loans which have a 10-12 per cent share in the total lending portfolio of Rs.1 lakh crore, a top official of CRIF Highmark, a credit information bureau, said today.
Of the total micro finance lending, Rs 12,000 crore was availed of by 72,00,000 women and their households. Of this, Rs 900 crore was distributed in Coimbatore region, said Senior Business Development Manager (India-Banking and Insurance) Natarajan Kumar.
The country has the biggest micro finance market which has under its fold 4.5 crore women.
Here to address a seminar to create awareness about credit score, he said it was an estimate of the ability of a person or organisation to fulfill financial commitments, based on track record on bank loans or credit cards.
Credit reports and scores from companies like his had helped people in getting loans approved quickly from banks and other financial institutions, he added,