In the past few years, a lot has changed in some way or the other. Significantly, the microfinance sector has also scaled its graph exponentially enabling income-generating activities and helping people to break out of poverty, by expanding its product portfolio to provide loans and (increasingly) savings, insurance and related products to groups with low-income, as well as micro, small and medium enterprises. This growth has helped the Microfinance institutions to secure 21 percent portfolio growth as of June-end 2023. Even the studies have estimated the microfinance industry to value $122.46 billion approximately by 2026, registering a CAGR of 11.61 percent during 2021-26.

Though nothing much has changed in microfinance realm, technology advancements has been effectively driving the space. But, still the growth of MFIs is affected by factors such as, capacity in managing finances and loans and adhering to financial policies and guidelines, including competent personnel, appropriate training to key staff, loan follow up, corruption, and access of members to business training. Well, there are many key players thriving in the industry and propelling the microfinance companies positioning and growth today. While it may not be easy to look for the best one among a gamut of MFIs, siliconindia through its current edition, ’10 Most Promising Microfinance Companies- 2023’ strive to resolve this dilemma for you bringing to you some of the acknowledgeable companies in the industry.

Do read to know more about them and let us know your feedback!