Comprehensive Analysis of the Microfinance Industry in India

Abstract

Microfinance includes investment funds and financial records, smaller-scale protection, payment systems, and microcredit, the provision of modest loans to underprivileged clients. Microfinance services are designed to be more accommodating to underprivileged and socially marginalised consumers and to help them become independent. This chapter includes the descriptive, prescriptive and predictive analytics of the microfinance industry in India. First, this research is descriptive research, which will describe the recent developments taken place in the microfinance industry in India and in the world very recently, after that, identify the futuristic behaviour of the microfinance industry and forecast the growth for the next 10 years. This chapter also includes prescriptive analytics to modify the limitations of the ongoing microfinance industry. There have been considerable changes in the microfinance sector worldwide, but this research paper emphasises the developments that are still to come in the microfinance sector of India. In particular, the expansion and size of the microfinance sector, which will treble in India over the next five years. This chapter also includes a forecast or prediction of the microfinance industry in India and an analysis done through the NCSS tool.