Microfinance India: State of the Sector Report is an annual publication on the microfinance sector which quantifies the growth and performance based on different criteria, in addition to documenting recent developments, analyzing issues, identifying policy choices with the overall objective of understanding the sector. Besides making available the latest statistical data on growth performance and expansion across regions and different segments of the population, the document provides inputs for in-depth understanding of the operational climate and the new innovations that have been adopted during the recent year. While previous years State of the Sector Report gave an account of the recent crisis and its impact on the sector, the 2012 report covers many of the promising developments in providing products and services that go beyond just financial inclusion and providing credit by the microfinance sector. In support of the different aspects of development in the sector, the report reviewed various research studies and writings by eminent microfinance experts and stakeholders. This report is a valued reference document for researchers, practitioners and policy makers in Microfinance sector.