Almost 18 months after demonetisation was announced, the microfinance sector continues to suffer, as a substantial portion of its loan portfolio in some states remains at risk. At national level, the portfolio at risk (PAR) — value of loans in arrears — for delinquencies of more than 30 days (PAR>30) was almost 6 per cent at the end of December 2017, up from 0.3 per cent at the end of September 2016.

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