Microfinance has emerged as a major tool for enhancing financial inclusion by offering financial services to under-served and low-income groups. In India, the microfinance industry has witnessed immense growth in the recent past, with an increase in the number of Microfinance Institutions, Self-Help-Groups, NBFC-MFIs, and Small Finance Banks. However, microfinance outreach in various regions and population groups is at different levels, hence there is a need to improve it. This research aims to explore the microfinance outreach trends in India for years 2016-25, based on secondary data obtained from various Bharat Microfinance Reports. A descriptive and analytical approach has been followed to explore various microfinance outreach indicators, such as the number of borrowers, number of loan disbursements, rural-urban distribution, outstanding portfolios and quality of portfolios. Furthermore, a Microfinance Penetration Index (MPI) was calculated and directly compared against state-level Poverty Indices. The results suggest that microfinance outreach has expanded over time, with a marginal deceleration in 2025. The results also highlight the significance of NBFC-MFIs in microfinance outreach and regional disparities wherein the southern and eastern regions have outperformed the northern and northeastern regions. The study also indicates that regional microfinance outreach has greater loan exposure and a high level of delinquencies, which may pose a potential threat to credit risk in future. The study suggests that although the microfinance sector in India has made significant progress in recent years, some challenges are yet to be addressed, such as regional disparities and credit and portfolio risk.