Dr Alok Misra On Whether Pure MFIs Can Survive Or Must Diversify To Sustain Growth

At the BT Best Banking & Economy Summit, Dr Alok Misra, CEO & Director of Microfinance Institutions Network, shares a realistic outlook on the future of microfinance. Responding to questions on whether pure-play MFIs will survive till 2047 or evolve into diversified financial hubs, he says predicting that far ahead is speculative. Instead, he outlines a vision till 2030–32. While credit remains core, MFIs are expanding into insurance and lobbying to distribute pension products like Atal Pension Yojana through NBFCs. He stresses that scaling nano and micro enterprises — which form the bulk of India’s MSMEs — is critical for inclusive growth. Policymakers, lenders and regulators must work together to ensure sustainable sector performance.