Recently, a report issued by the International Monetary Fund stating about the progressive recovery of the Indian economy according to which the fiscal and monetary policy amendments are a contributory factor for the positive changes along with the measures for the financial industry. There are mainly four segments in the finance sector that are experiencing a great boost which include - Microfinance, Trade Finance, Housing Finance, and Private Equity(PE) while there are a few segments that have monthly base improvements. Other segments are expected to show their positive pre-COVID growth soon.
Many dominant industry experts see the overcoming of the microfinance sector from COVID-19 powerful than any other previous emergencies that mainly include - Krishna Crisis (2006), Kolar crisis (2009), Andhra Pradesh crisis (2010), and demonetization (2016). There can be multiple reasons behind them, the first of which includes serving those rural customers who were part of the strongest parts of the economic system.
Read more: https://www.emeriobanque.com/news/finance-industry-is-at-pre-covid-levels-et-ilc-members
