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Technological advancements such as rising adoption of automated portfolio monitoring solutions to gather
more information about client credit flow can further drive the market for microfinance. Factors such as
challenges in credit assessment may hinder this growth to an extent in the forthcoming years. Having said
that, rising globalization and its positive impact on microfinance institutions has ope ned new avenues for
them in the form of partnerships, foreign investments, strategic alliances, and global trade. All these factors
are anticipated to bode well for market growth. Rise in initiatives to spread awareness regarding advantages
of these institutions, coupled with efforts to empower marginalized population, may further create business
opportunities in the forthcoming years.
Banks and non-banks are some of the major types of institutions active in microfinancing. The banks segment
is projected to remain steady in future. Low interest rates are anticipated to bode well for the growth of
banking institutes in the coming years. However, reluctance of banks in providing funds to SMEs is
anticipated to boost the non-banking sector. Focus on non-bank financial resources such as mutual funds can
also drive the expansion of this segment in future. Some of the significant end-use sectors are household
finance, agriculture, services, and manufacturing. The services sector is likely to witness significant ri se in
terms of loans granted. Agriculture and household sectors are also anticipated to witness substantial growth
in the forthcoming years.
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