Invest in Microfinance Business with Insights Of High Beam Global

Microfinance is a type of banking service which is provided to unemployed or low-income groups because they have minimal access to financial resources. It enables an individual to take a reasonable amount of small loans safely in a consistent manner with ethical lending practices. Microfinance is of the flourishing vertical of the banking industry. A total number of microfinance accounts was 9.33crore at the end of March According to the secondary research conducted by a research analyst, the microfinance industry is foreseen to see a growth of 20-22% in banking industry

Various government initiatives for poor and better risk management practices being adopted to provide better financial aid and access to poor individuals are driving the microfinance market. High transaction cost and a small volume of transaction is the biggest challenge faced by microfinance institutions. Lack of education and awareness of financial services offered by the public is a significant threat to the growth of this market. A nonprofit commitment by the government to understand the economic scenarios of the low-income group and provide them access to fulfill their daily needs is creating lucrative growth opportunities with data collection for the microfinance industry.data collection

Many market research company in India is conducts an in-depth interview and analysis with experts of microfinance for their clients to gain insights on market dynamics, market size, market survey and industry performance. They help you to conduct a complete industry analysis, pestle analysis, regional analysis, as well as insights to its types, application, and end-users with a detailed survey from key opinion leaders of this business. HBG can also help you to conduct a comprehensive claim satisfaction survey with your clients. We specialize in collecting detailed insights from top industry experts to solve your business challenges and also understand your client's needs and industry scenario. market research company in IndiaHBG