India Microfinance Market to Grow at over 40% until 2025
Government push for the
growth of small and medium enterprises and lower-income groups driving
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 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 BPL
category. This industry is also helping the women, especially from rural areas,
to avail small loans at affordable rates.
Browse 29 market data Figures spread through 70 Pages and
an in-depth TOC on "India Microfinance Market".
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, bank
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. 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 segment dominates
the end use segment of microfinance market in India. Region wise, India microfinance
market is segmented into North, South, West and East regions. South region
accounted for the highest market share in 2020, followed by West, North and
East regions. The East region is foreseen to witness 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 and 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 for the adoption of MFI, which will further
boost India microfinancing market over the next five years. Moreover, low
interest rate scenario along with increasing urbanization would further steer
growth in India microfinance market during 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 microfinance
market across the country, and provides statistics and information on 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 India microfinance
market.
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