Government pushes for the growth of small and medium enterprises and lower-income groups driving the microfinance market in India. According to TechSci Research report, “India Microfinance Market By Type, By Bank Type, By Non-Banks, By End-Use, By Area, By Region, Competition, Forecast & Opportunities, 2025”, microfinance market in India is anticipated to grow at a brisk CAGR of more than 40% during 2021 – 2025, predominantly on account of increasing demand for microfinance loans from the country’s MSME sector.
The Important Aspects of the Indian Microfinance Market
The main objective of microfinance organizations is to provide a chance to low-salary borrowers to become self-sufficient. This sector plays an important role in promoting inclusive growth by providing credit to borrowers who fall under the BPL category. This industry is also helping women, especially from rural areas, to avail of small loans at affordable rates.
The microfinance market in India can be segmented based on By Type, By Bank Type, By End-Use, By Area, and By Region. Based on types, India microfinance market is segmented into banks and non-banks. In India, banks are the preferred sources for microfinance. Banks dominated the market in 2020 and the trend is likely to continue in the forthcoming years as well. This is due to banks offering attractive interest rates compared to non-banking institutions.
Browse 29 market data Figures spread through 70 Pages and an in-depth TOC on “India Microfinance Market“.
In terms of Bank Type segmentation, the market is categorized into small finance banks, commercial banks, regional rural banks, and cooperative banks. Small finance banks accounted for the largest market share in 2020 and the trend is expected to continue during the forecast period. By End-Use, the market is segmented into Agriculture and Allied, Services, Trade & Business, Education, Production/manufacturing, and others. Agriculture and Allied segments dominate the end-use segment of the microfinance market in India. Region-wise, Indian microfinance market is segmented into North, South, West, and East regions. The south region accounted for the highest market share in 2020, followed by the West, North, and East regions. The East region is foreseen to witness the fastest CAGR during the forecast years.
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Major players operating in India microfinance market include
- Jana Small Finance Bank Limited
- Belstar Investment
- Finance Private Limited
- Ujjivan Small Finance Bank Limited
- Satin Creditcare Network Limited
- Annapurna Microfinance Pvt. Ltd
- BSS Microfinance Pvt. Ltd
- Fusion Microfinance
- Future Financial Services Private Limited
- Asirvad Microfinance Pvt. Ltd
- Mudra Microfinance, and Others. Growing technological advancements and government initiatives towards digital innovations like ‘Broadband for All’, which aims to cover over 200,000 villages in India, will reduce the barrier to the adoption of MFI, which will further boost India microfinancing market over the next five years. Moreover, a low-interest rate scenario along with increasing urbanization would further steer growth in India microfinance market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Microfinance Market By Type, By Bank Type, By Non-Banks, By End-Use, By Area, By Region, Competition, Forecast & Opportunities, 2025” has analyzed the potential of the microfinance market across the country, and provides statistics and information on the market sizes, shares, and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Indian microfinance market.
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