Global Recession and Microfinance Institutions: Challenges and Opportunities

Avijit Brahmachary ()
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Avijit Brahmachary: Barrackpore Rastraguru Surendranath College

Chapter Chapter 2 in Microfinance to Combat Global Recession and Social Exclusion, 2022, pp 11-27 from Springer

Abstract: Abstract Microfinance has now evolved as a strategic movement in developing and underdeveloped nations and emerged as a development programme with diverse ideas, products and services. It is not just a government sponsored project, commercialization of the programme has opened multiple opportunities to the Micro Financial Institutions (MFIs). There is no doubt that microfinance sector is supposed to be affected directly or indirectly during the crisis in the global or regional financial markets with varied degrees. The effects of financial crisis are not same for all microfinance institutions throughout all the countries and depend on the demand for microfinance, repayment performance, income and expenditure of the institutes. Though, the blow of the crisis in organized banking sector was severe, the wound on microfinance sector is mixed in nature. In this chapter, we have tried to examine the performance of a few selected Microfinance Institutions to assess the impact of global financial crisis on these institutions. The secondary data analysis elicits that those institutions who offer multiple services such as savings, insurance, training etc. simultaneously are less affected and struggled hard to keep the organizational spine straight at the outset of crisis.

Keywords: Microfinance Institutions (MFIs); Commercialization; Global Financial Crisis; Formal Banking; Economic Recession; Savings; Insurance (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-4329-3_2

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DOI: 10.1007/978-981-16-4329-3_2

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