Microfinance Market Size, Share, Trends, Analysis and Forecast 2020-2026
A full report of Global Microfinance Market is available at: https://www.omrglobal.com/industry-reports/microfinance-market
Therefore, the funding environment of the microfinance market is certainly at a risk. It can be seen that the revenue of the industry is threatened as the customers are affected by the global macroeconomic collapse, social distancing, and other COVID-19 norms posed by healthcare organizations and respective governments, to contain the spread of the pandemic. Therefore, many microfinance institutions have suspended repayments during this meantime, with which, no income is calculated in the industry in the past 2-3 months. Thus, the global microfinance market is experiencing a huge pressure from all the directions amidst the outbreak.
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However, the government is taking several steps to assist microfinance institution during this meantime. The government of the respective countries is following numerous measures to handle the financial industry. For instance, the Reserve Bank of India (RBI) has opened an all-over separate liquidity window for several smaller non-bank lenders, which includes microfinance institutions. The Government of India (GoI) has offered moratorium of three-months to loan borrowers. In addition, the microfinance lenders have announced an extension of three-months of moratorium to microfinance clients. Some other steps taken by the GoI include-
• National Bank for Agriculture and Rural Development (NABARD) has been allotted $33 million (INR 25,000 crore) to enable refinancing of regional rural banks, cooperative banks, and microfinance institutions.
• All India financial Institutions, such as Small Industries Development Bank of India (SIDBI), NABARD, and the National Housing Bank will be provided with special refinance facility of $66 million (INR 50,000 crore) at the repo rate.
• The SIDBI has been given Rs $20 million (INR 15,000 crore) for on-lending and refinancing to scheduled commercial banks, non-banks, and microfinance institutions.
In addition, the GoI has revised guidelines on April 15, 2020, and allowed housing finance companies and microfinance institutions to resume work with minimum staff. In addition, all agricultural and horticultural activities, cooperative credit societies, plantations, and construction activities in rural areas are allowed to restart from April 20, 2020. These steps are expected to certainly curtail the loss for the microfinance market in India.
Global Microfinance Market-Segmentation
By Service Type
• Group and Individual Micro Credit
• Others (Micro Investment Funds)
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Global Microfinance Market– Segment by Region
• United States
• United Kingdom
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
• Accion International
• Asirvad Micro Finance Ltd. (Manappuram Finance Ltd.)
• Bajaj Finance Ltd.
• Bancamía S.A.
• Banco do Nordeste do Brasil SA
• Bandhan Bank Ltd.
• Bangladesh Rural Advancement Committee (BRAC)
• BSS Microfinance Ltd.
• CreditAccess Grameen Ltd.
• Equitas Small Finance Bank Ltd.
• Fusion Microfinance
• Grameen Bank
• ICICI Bank
• Jamii Bora Bank
• Kiva Microfunds
• microStart SCRL
• National Bank for Agriculture and Rural Development (NABARD)
• PT Bank Rakyat Indonesia Tbk
• Qredits Microfinanciering Nederland
• Ujjivan Financial Services Ltd.
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