MFIN, the Association for microfinance entities and an RBI-recognized SRO has launched‘India Microfinance Review FY 20-21; Micro Matters: Macro Review’ at a special event in Mumbai.
The report was unveiled by Sivasubramanian Ramann, Chairman & Managing Director, Small Industries Development Bank of India (SIDBI), amidst an august gathering comprising microfinance providers, investors and analysts, regulators, among others.
The report an overview of the Microfinance sector, its regulatory environment, performance during a tough financial year and critical developments including continued customer focus and changing market dynamics.
Dr Alok Misra, CEO & Director said, “Drawing from our unique position as an RBI-recognised SRO and an industry association, we feel the need and responsibility to present a holistic perspective of the Microfinance industry in India. There was a need to present the broader complex context within which the industry operates so that gap arising from different isolated perspectives is bridged. Besides presenting the performance of the sector serving 60 million low-incomeclients, the report also provides pointers to future so that all stakeholders associated with the industry remain cognizant of its core objective and frame their risk and return expectationswith a broader and long-term perspective.”
Sivasubramanian Ramann, Chairman & Managing Director, SIDBI said, “I compliment MFIN on release of this important publication. The Microfinance sector has been meeting the financial needs of customers who are excluded from formal credit owing to several barriers. Even among those served, vulnerabilities to income from shocks at the household, community and macro-level remain high. This report aptly captures the resilience of the sector and its constant struggle against odds to take formal credit to those who need it most!”