Equitas 4QFY17 performance was muted, as the MFI segment continued to be impacted by lower collections post demonetisation. Collection efficiency of the MFI book stood at 95.8% (98.4% in 3QFY17), as compared to the normal level of 99% . Disbursements were down QoQ, owing to a cautious stance on the MFI portfolio, whose share declined 350bps to 45.3%.