Microfinance and Crowd Funding

In 2015, there were 155 MFIs with a branch network of 11,687. As of 2016, number of microfinance branches increased at 15% growth rate. And as of 2017, there were 223 MFIs that included NGO-run units and societies. Microfinance institutions help create jobs in the impoverished communities. According to The Bharat Finance Report 2017-18, MFI sector employs 89,785 Personnel, out of which 12% are women, and 60% are field staff. We are near the end of 2020-21 session and jobs in microfinance based on past 5 year tread should have grown to a decent number.

The number of Urban co-op banks (UCBs) operating in India has shrunk from 1,926 in 2005 to 1,551 by 2018. By end of FY18, UCBs managed INR 4.56 Lakh Crore in deposits, had advances of INR 2.80 Lakh Crore and managed total assets of INR 5.63 Lakh Crore.