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Operational figures |
During the FY 2008-09, SFMC has sanctioned an aggregate financial assistance of Rs. 1915.78 crore as against Rs. 768.74 crore during the previous year. Of this, sanctions by way of term loan assistance stood at Rs. 1872.15 crore to 76 MFIs as against Rs. 745.95 crore to 61 MFIs during FY 2008. Transformation loan assistance of Rs. 8 crore was extended to 10 MFIs during the year under review. The aforesaid assistance is expected to provide income generating avenues to about 19.62 lakh poor, mostly women. Total disbursements during the year stood at Rs. 1741.61 crore, as against Rs.713.73 crore in FY 2008. Disbursements were made by way of term loan assistance of Rs. 1686.75 crore to 86 MFIs, as against Rs. 695.80 crore to 67 MFIs during FY 2008. The loan portfolio as on March 31, 2009 stood at Rs. 2136.89 crore, as against Rs. 950.38 crore at the end of the corresponding period of FY 2008. In addition to the above, capacity building grant of Rs.11.45 crore was sanctioned during FY 2009. Of the total grant assistance, Rs.10.58 crore was sanctioned to MFIs for their capacity building needs and Rs. 0.87 crore for various sector building initiatives. Further, grant disbursements during the year stood at Rs. 22.81 crore. Out of the grant disbursements, Rs.12.15 crore was disbursed to partner MFIs for their capacity building needs while Rs.3.36 crore was disbursed towards other initiatives. An amount of Rs.7.30 crore was allocated towards the Risk Fund created under DFID collaboration. The comparative operational highlights are given in following table :-
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MAJOR MILESTONES IN THE DECADE LONG JOURNEY OF SFMC |
- SIDBI Foundation for Micro Credit launched in January 1999
- SIDBI received the coveted 'Asian Banking Awards 1999' by ADFIAP for its Micro Credit Scheme in the Development Finance products / programme category - The Awards are instituted by Asian Banking Association and the Association of Development Financing Institutions in Asia & Pacific.
- Signing of MoU with the Department for International Development (DFID), UK - July 2000
- Signing of Loan Agreement with International Fund for Agricultural Development (IFAD), Rome - February 2002
- Transformation Loan and Liquidity Management Support Products introduced - FY 2003
- Collaboration with the Govt. of India for creating a Portfolio Risk Fund of Rs. 150 crore during the 10th Plan period - to partly meet security deposit requirement of MFIs in underserved States - FY 2004
- Concept of Score Chart for pricing of loans introduced - Interest rate on loans to MFIs are priced based on internal scoring done on various parameters - FY 2004
- Corpus Support for Transformation - an innovative product was introduced to target the lowest segment of NGOs / MFIs to facilitate their scale-up and eventual transformation - FY 2006
- Creation of a Risk Fund to cover loans to MFIs in underserved States - FY 2006
- Setting up of SIDBI Growth Fund for MFIs (SGF-MFIs) with a fund size of Rs. 50 crore for providing equity and quasi-equity support to MFIs The fund has since been increased to Rs.500 crore - FY 2007
- Micro Enterprise Loan product introduced for dispensing small loans ranging from Rs.50,000 to Rs. 5 lakh. Loans are covered under CGTMSE scheme - FY 2009
- Opening of 7 dedicated micro finance branches at Lucknow, Hyderabad, Chennai, Bangalore, Kolkata, Bhubaneswar and Guwahati - FY 2008-09
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| Table
- 5.1 Assistance under Micro Credit (Rs.crore) |
| Sr. |
Particulars |
2007-08 |
2008-09 |
Cumulative |
| |
Sanc. |
Disb. |
Sanc. |
Disb. |
Sanc. |
Disb. |
| 1 |
Term Loans |
745.95 |
695.80 |
1872.15 |
1686.75 |
3692.75 |
3252.02 |
| 2 |
Liquidity Management Support (LMS) |
0.00 |
0.00 |
0 |
0 |
6.60 |
6.47 |
| 3 |
Transformation Loan (TL) / Corpus Support for Transformation |
0.00 |
0.00 |
8 |
8 |
23.05 |
19.05* |
| 4 |
Equity Support |
13.71 |
5.71 |
24.18 |
24.05 |
39.89 |
30.76 |
| 5 |
Capacity Building grant to MFIs |
5.36 |
7.00 |
3.28 |
12.15 |
67.04 |
58.78 |
| 6 |
Risk Fund for smaller MFIs |
2.98 |
2.98 |
4.30 |
4.30 |
7.28 |
7.28 |
| 7 |
Risk Fund for Two-Tier MFIs |
0 |
0 |
3.00 |
3.00 |
3.00 |
3.00 |
| 8 |
Other capacity building grants |
0.74 |
2.24 |
0.87 |
3.36 |
22.96 |
21.05 |
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Total |
768.74 |
713.73 |
1915.78 |
1741.61 |
3862.60 |
3398.41 |
| 9 |
Loan outstanding |
950.38 |
2136.89 |
| 10 |
No. of beneficiaries assisted (in lakh) |
12.88 |
19.62 |
65.95 |
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*Transformation Loan of Rs.3 crore has since been converted into Equity of the MFIs concerned. |
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