The Microfinance Review

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COVID-19: The Economy Fights Back


Affiliations
1 Director, BIRD, Lucknow, India
2 Deputy General Manager and Faculty Member, BIRD, Lucknow, India
     

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The pandemic and the resultant lockdown unleashed a world-wide crisis in terms of disruption in supply chains and economic activities, life and job losses, jeopardising small enterprises, creating liquidity crisis and asset — liability mismatch in the financial sector, weakening of demand and an overall slump in the economies. Governments and central banks world over responded to this with emergency measures to protect lives and livelihoods. The initiatives ranged from injecting liquidity into the system to cash transfers and digital outreach. This article explores the response of the Government of India, Reserve Bank of India, National Bank for Agriculture and Rural Development and state governments and its impact on microfinance sector, financial inclusion and rural livelihoods.

Keywords

Microfinance Sector, Financial Inclusion.
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  • Sa-Dhan (2020b): A Study on Impact of Unfolding COVID-19 on MFIs and Clients, May, Sa-Dhan, New Delhi.

  • Microfinance Institutions Network (2020): MicroMeter, Issue 35, September 2020, MFIN, Haryana.

  • MicroSave Consulting (2020): Impact of COVID-19 on Business Correspondents, June.


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  • COVID-19: The Economy Fights Back

Abstract Views: 368  |  PDF Views: 0

Authors

Shankar A. Pande
Director, BIRD, Lucknow, India
Deepmala Ghosh
Deputy General Manager and Faculty Member, BIRD, Lucknow, India

Abstract


The pandemic and the resultant lockdown unleashed a world-wide crisis in terms of disruption in supply chains and economic activities, life and job losses, jeopardising small enterprises, creating liquidity crisis and asset — liability mismatch in the financial sector, weakening of demand and an overall slump in the economies. Governments and central banks world over responded to this with emergency measures to protect lives and livelihoods. The initiatives ranged from injecting liquidity into the system to cash transfers and digital outreach. This article explores the response of the Government of India, Reserve Bank of India, National Bank for Agriculture and Rural Development and state governments and its impact on microfinance sector, financial inclusion and rural livelihoods.

Keywords


Microfinance Sector, Financial Inclusion.

References