India Microfinance Market is predicted to expand at a rapid CAGR of over 40% until 2025, primarily because of the growing demand for microfinance loans coming that originate from within the MSME sector. The primary goal of microfinance companies is to provide an opportunity to low-income borrowers to be self-sufficient. This sector plays a crucial role in encouraging growth that is inclusive by providing loans to those who fall in the BPL (Below Poverty Line) category. This sector also helps rural women to take advantage of small loans at low rates that allow them to make a living. Here, we will discuss the India Microfinance Market Forecast, Share, Size, and Growth for 2022-2027.
Based on type, the India Microfinance Market is classified into two categories: banks as well as non-banks. In India, banks are the main source of Microfinance. Banks were the dominant player in 2020 and the pattern will likely continue in the years to come. This is due to banks that provide attractive interest rates when compared to other non-banking institutions.
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According to the type of bank the market is divided into Small Finance Companies, Commercial Banks, Regional Rural Banks as well as Cooperative Banks. Small Finance Companies accounted for the largest market share in FY 2020 and were then followed by Commercial Banks and Reginal Rural Banks. In terms of regions, the India Microfinance Market is divided by region into North, South, West, and East. In the fiscal year ending in 2020, South regions accounted for over one-third of the market share then followed by West, North, and East regions.
Some of the major players operating in the Indian microfinance industry comprise Jana Small Finance Bank Limited, Belstar Investment, and Finance Private Limited, Ujjivan Small Finance Bank Limited, Satin Creditcare Network Limited, and Annapurna Microfinance Pvt. Ltd BSS Microfinance Pvt. Ltd, Fusion Microfinance, Future Financial Services Private Limited Asirvad Microfinance. Ltd, Mudra Microfinance, and Others. Companies operating in India microfinance are offering flexible fees, interest, charges, and loan duration to attract increasing numbers of customers.
The years considered for This report for India Microfinance Market
- Historical Year from 2015 to 2019
- The base year is 2020
- Estimated Year: 2021
- Forecast Time 2022-2027
The purpose of this Study for the India Microfinance Market
- To study and forecast the dimension in the India Microfinance Market.
- To define as well as predict the India Microfinance Market based on the type, source, percentage, tenure area of the property, and distribution regionally.
- To determine the drivers and obstacles to India Microfinance Market.
- Examine the competitive landscape, like expansions and new product launches mergers, and acquisitions. In the India Market for Microfinance.
- To determine and analyze the performance of the top players operating in the Indian microfinance industry.
TechSci Research performed both primary as well as extensive secondary research to support this study. In the beginning, TechSci Research sourced a list of companies in the United States. Following that, TechSci Research conducted primary survey research with the selected firms. In the course of the interview, participants were also asked questions about their competition. By using this method, TechSci Research could include the firms that cannot be discovered because of being unable to conduct secondary research.
TechSci Research calculated the market size of India microfinance using the bottom-up method, where information for different segments of the end-user was recorded and forecasted for the coming years. TechSci Research sourced these values from industry experts as well as company representatives, and then externally verified them by analyzing the data from previous years of these product types and applications to arrive at an accurate market size. Numerous secondary sources, such as news articles on company websites or press releases, annual reports of companies as well as investor presentations as well as financial statements were examined in TechSci Research.
Key Target Audience for India Microfinance Market
- Microfinance firms and other stakeholders
- The government bodies include those that regulate officials and decision-makers
- Forums, organizations, and alliances in relation to microfinance markets
- Consulting and market research firms
The study can be useful in providing solutions to a number of crucial questions that are vital to the stakeholders in the industry including service providers and customers, partners and others. In addition, it assists them to plan investment strategies and maximizing opportunities in the market.
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