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Innovation, Efficiency and Inclusion: Integration of Digital Technologies in the Indian Microfinance Sector

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  • Saon Ray
  • Sandeep Paul
  • Smita Miglani

Abstract

This paper explores how these mechanisms - innovation, inclusion and efficiency – have been integral to microfinance operations in the past, and how innovations in digital technology may be yet another opportunity for microfinance institutions to promote development. We refer to examples from the Indian microfinance industry to explore how the digital technology changes are shaping the microfinance sector. Digital technologies are rapidly making inroads into all realms of human life and the microfinance sector is one such area. Ongoing innovations in digital technology are contributing to reshaping its operational models, governance structures, its risk profile, industry networks and dominant practices. Innovation and integration of digital technology are both important because of their potential to promote development by spurring innovation, improving efficiency and increasing inclusion.

Suggested Citation

  • Saon Ray & Sandeep Paul & Smita Miglani, 2019. "Innovation, Efficiency and Inclusion: Integration of Digital Technologies in the Indian Microfinance Sector," Working Papers id:13001, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:13001
    Note: Institutional Papers
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    1. Robert Cull & Asli Demirgüç-Kunt & Jonathan Morduch, 2009. "Microfinance Meets the Market," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 167-192, Winter.
    2. Anurag Priyadarshee & Asad K. Ghalib, 2011. "The Andhra Pradesh microfinance crisis in India: manifestation, causal analysis, and regulatory response," Global Development Institute Working Paper Series 15711, GDI, The University of Manchester.
    3. Kent, Derin & Dacin, M. Tina, 2013. "Bankers at the gate: Microfinance and the high cost of borrowed logics," Journal of Business Venturing, Elsevier, vol. 28(6), pages 759-773.
    4. Katarzyna Burzynska & Olle Berggren, 2015. "The Impact of Social Beliefs on Microfinance Performance," Journal of International Development, John Wiley & Sons, Ltd., vol. 27(7), pages 1074-1097, October.
    5. Geels, Frank W., 2002. "Technological transitions as evolutionary reconfiguration processes: a multi-level perspective and a case-study," Research Policy, Elsevier, vol. 31(8-9), pages 1257-1274, December.
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