Characteristics of Mumbai Microfinance Market
by Sunil Bhat, TVS Ravi Kumar, Anant Jayant Natu and Ravi Kant
Sep 6, 2010
1 min
This Note analyses the way poor entrepreneurs in Mumbai currently finance their businesses, and the options and opportunities for MFIs in Mumbai.
The Mumbai market is unique and needs to be approached in a different way by MFIs. Since Mumbai is a busy place, MFIs need to make their operations efficient and faster: weekly group meetings are likely to be unpopular. This Note analyses the way poor entrepreneurs in Mumbai currently finance their businesses, and the options and opportunities for MFIs in Mumbai. It then provides some pointers on how best to design products for this unique urban market, and concludes that with care, and thoughtful product design, Mumbai promises to be a very lucrative market for microfinance.
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