Month: February 2023

CRIF High Mark, one of the leading credit bureaus of India has announced the nineteenth edition of ‘CRIF MicroLend Vol XXI – September 2022’ – quarterly publication with an overview of the Micro-lending industry in India. The current edition provides insights on the micro-lending portfolio as of September 2022.

Key highlights of the report

·         Portfolio outstanding of Microfinance sector at ₹300K crore as of Sep’22 with 5% Q-o-Q and 21.5% Y-o-Y growth

·         NBFCs dominate the market with portfolio share of 35.1%, surpassing Banks 34.8%, SFBs 16.8%, as of Sep’22

·         PAR 30+ DPD improved from 5.8% as of Jun'22 to 5.4% as of Sep'22, PAR 90+ DPD increased from 2.2% to 2.7% during the same

·         period

·         Top 10 states by GLP contribute to 84.2% of national GLP, Bihar recording highest Q-o-Q growth

·         ₹65.3K crore originations (by value) and 163.5 lakh originations (by volume) in Q2 FY23

 

Geographic Deep Dive

·         Top 10 states constitute 84.2% of the GLP as of Sep’22

·         Bihar, Karnataka and Uttar Pradesh recorded highest Qo-Q growth of 9.8%, 8.2% and 8.1% respectively as of Sep’22

·         Average balance per borrower for top states, Tamil Nadu, Bihar and West Bengal stood at ₹51.9K, ₹53.1K and ₹47.3K, as of Sep’22

·         Microfinance sector dominated by Eastern region (32.7%) followed by South (26.9%), as of Sep’22

·         42.4% of banks’ portfolio is concentrated in eastern region. NBFC MFIs have 28.7% share in East. SFBs have concentration of 36% in South

 

Risk Profile – Geographic Deep Dive

·         PAR 30+ DPD as of Sep'22 is lower for all top 10 states compared to overall Industry (5.4%), except West Bengal, Madhya Pradesh and Kerala

·         PAR 30+ DPD as of Sep'22 reduced Q-o-Q for all top 10 states except West Bengal and Uttar Pradesh, remained stable for Madhya Pradesh and Odisha

·         PAR 90+ DPD as of Sep’22 increased Q-o-Q for all top 10 states except Tamil Nadu, Karnataka and Kerala as of Sep'22

·         PAR 180+ DPD as of Sep'22 increased Q-o-Q across all top 10 states except Bihar and Uttar Pradesh

·         PAR 90+ DPD as of Sep'22 witnessed Y-o-Y decline for all top 10 states

 

Commenting on the report Mr. Sanjeet Dawar, Managing Director, CRIF High Mark, said, “CRIF MicroLend Report Vol XXI shows significant improvement in microfinance book as of Sep’22 over the previous quarter. The portfolio outstanding of the microfinance sector stands at ₹300K crore as of Sep’22, witnessing Y-o-Y growth of nearly 22% and 26% Y-o-Y growth in the rural market portfolio over the same period. New loan originations by value and volume in Q2 FY23 witnessed a growth of nearly 20% over the previous quarter. This enhanced performance combined with the revised regulatory framework brought out by the RBI shall provide a boost to the microfinance industry.”

 

AHMEDABAD, India, Feb. 8, 2023 /PRNewswire/ — Gujarat Mineral Development Corporation (GMDC), a leading mining PSU enterprise and the largest lignite seller in the country, bids for the highest number of blocks in commercial coal block auction by the Ministry of Coal under the latest tranche. Gujarat Mineral Development Corporation placed a total of 9 bids. Through this participation, GMDC aims to expand its business beyond the state's geographical boundaries.

GMDC has a vision of revolutionizing the Mining industry, and the expansion would indicate its commitment to that vision. The new development will bring GDMC's diversified products to even more customers and create new job opportunities. The company is committed to supporting local economies and helping to drive growth and development.

GMDC looks forward to serving even more customers and continuing to grow and evolve in the years to come. The new expansion would testify to GMDC's success and ongoing commitment to growth and sustainability.

Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)

NEW DELHI, Feb. 7, 2023 /PRNewswire/ — The beauty of educational institutions lies in their heterogeneity – when one steps into a school or college campus, they overhear conversations in multiple languages. If this is the scene on the campus, why then the insistence on learning only in English in the classroom?

With NEP 2020 focusing on use of home language in the classroom, Macmillan Education India undertook a survey to build understanding of and support implementation of multilingualism. As part of the study, the company reached out to a thousand practising teachers, to explore the understanding and need for multilingualism in classrooms.

The study aims to understand the perceptions of teachers on multilingualism and its significance in Indian classrooms in the coming times. Findings concerning the participating teachers' understanding and support of the actual concept of multilingualism, its impact and effectiveness varied.

The study identified the following:

• While the participants perceive multilingualism differently, they all welcome the use of more than one language in their classes
• Use of home language can support the understanding of academic concepts
• Usage of multiple languages in the classroom encourages diversity and inclusion

The report on 'Multilingualism in India's Classrooms' was released by Mr. Biswajit Saha, Director Training & Skilling, Central Board of Secondary Education, Mr. Frank Vrancken Peeters, Chief Executive Officer, Springer Nature Group, Mr. Joachim Krieger, Managing Director, Professional and Education, Springer Nature and Mr. Rajesh Pasari, Managing Director, Macmillan Education India and Vandana Juneja, Director, Marketing, Macmillan Education India at an event held in Delhi.

Addressing a gathering of educators, Mr. Frank Vrancken Peeters spoke on the Group's emphasis on research to advance learning and opening doors to discovery. He said, “Springer Nature is committed to publishing trusted research. This report supports the development of a new idea which could positively influence learning outcomes and play a part in offering a solution to the practical challenge of teaching in linguistically diverse classrooms.”

When participants were asked the question 'Does student learning improve when you switch between languages during classroom instruction?'

For a majority of teachers the answer was a big 'Yes' for Teaching English with code switching. Based on broad-spectrum observations, given the multilingual nature of India, there is always a general tendency among teachers in both ELT and other classes to code-switch for some reason or another. Said a teacher, “Language switching helps English learners better understand concepts, especially cultural ideas. The phrase 'Child's play' was used in a poem which they understood clearly when a learner shouted 'Bachon ka Khel'.”

The survey showcased possible outcomes of allowing students to use their home language while learning English in the classroom

Highlighting the significance of the survey report Mr Rajesh Pasari said, “The report documents the multilingual reality and various teaching practices in classes of English language as well as other subjects all over India. It analyses the potential advantages and challenges of linguistic diversity which can impact the learning of Indian learners in educational institutions.”

At a panel discussion held at the event, panellists Prof. Rama Meghanathan, Professor of English, NCERT, Prof. Deepti Gupta, Professor of English, Panjab University and Radhika Gholkar, Head—Academic English, The British Council and Ms Kadambari Lohiya, mentor teacher, Directorate of Education, Delhi all agreed that the multilingual nature of the Indian classroom, must be used as a resource, so that every child feels secure and accepted.

It is a report which will assist Indian teachers to move confidently ahead with deep respect for their mother tongue and improve learning outcomes by allowing mother tongue in the classroom for higher confidence and conceptual understanding of students.

(Disclaimer: The above press release comes to you under an arrangement with PRNewswire India and this publication takes no editorial responsibility for the same)