This article is an attempt to find out the recent developments which happened in Microfinance industry in the world, in the process of identifying the developments, the authors understand that, this industry is heading towards the growth of 42.9 percent year on year and lending quantum increases to Rs. 190,684 crores at the first quarter of 2019 in a report of Microfinance Institutions Network-MFIN in India. This industry will double its size in the span of five years. According to the father of Microfinance, “Muhammad Yunus” “the deposits of the poor must be utilized for financing their needs”, perhaps that is the wake-up call for all commercial banks here in India on Microfinancing. Recent developments which had happened around the world has been analyzed in the endeavor.