Microfinance lenders eye diversification as sector recovers: Industry leaders

Microfinance lenders are looking to diversify beyond unsecured group loans by offering new products and retaining existing borrowers as the sector recovers from its recent crisis, industry leaders said at the Business Standard BFSI Summit in Mumbai on Monday. According to them, collections were improving with tighter lending standards, though gaps in borrower identification, local disruptions and weather-related risks remained concerns.