Microfinance and Rural Credit: A Viable Career Option

Microfinance and rural credit as a viable career option is fast picking up among the urban youngsters of the third world countries as they are well aware of the existing potential of microfinance sector in the rural pockets of the developing nations. If you are socially conscious, wanting to make a difference to peoples’ lives while getting assured of a decent income, then go for a career in microfinance.

Microfinance is a field of management and finance sector and the name ‘microfinance’ itself suggests that it is nothing but delivering financial services at the smallest level, or rather say, at rural level. Microfinance services include providing rural credit and small loans to the rural and agricultural community who are in need of financial assistance and thus promoting their economic and social development. Microfinance activities also help strengthen agricultural economy in rural areas.

If you want to enter into microfinance sector you should be at least a graduate in social sciences. If you are looking for managerial and high responsible positions you must have a MBA in microfinance or rural development. There are several prominent management institutes which offer a two-year MBA course in microfinance and rural development.

Microfinance, a sunrise industry, is very much a financial operation and so professionals in this field should have a deep financial understanding and an analytical capability. They should have a natural affinity for the disadvantaged sections of the society.

Major career opportunities available for microfinance professionals are with microfinance institutions, banks and other financial institutions involved in rural and agricultural credit. They can work at managerial levels in the microfinance division of the banks or work as microfinance and rural credit consultant to banks and microfinance institutions. Graduates with a social science background can work as field officers and field executives. Experienced candidates can go on to open a microfinance institution of their own with a good support team.