Background

The entire world is fighting against the spread of the pandemic “COVID-19” which has unfolded its impact on the economy and on the people of under-developed and developed countries. The World Health Organization has reported that the COVID-19 has spread to 175 countries affecting 17,10,799 people and causing 103,513 deaths so far. This level of disruptions to normal life is unprecedented in the last several decades. For the financial sector and especially for the microfinance sector, COVID-19 has emerged as a black swan event.