Microfinance Institutions Network (MFIN) is an association for the microfinance sector in India. Its member organizations constitute the leading microfinance institutions in the country. It was established in October 2009 as a Society under the Andhra Pradesh Societies Registration Act 2001. It acts as the primary representative body of NBFCs & MFIs engaged in the business of Microfinance. Since its establishment, MFIN has been promoting the key objectives of Microfinance in India and as the Self-Regulatory Organization for the industry, has been working to establish guidelines for responsible lending and client protection.
Code of CONDUCT
INTEGRITY AND ETHICAL BEHAVIOUR TRANSPARENCY CLIENT PROTECTION GOVERNANCE RECRUITMENT CLIENT EDUCATION DATA SHARING FEEDBACK/ GRIEVANCE REDRESSAL MECHANISM
Work of MFIN
Validation of client for lending money. Only two MFIs can lend to one borrower and both together cannot provide loans beyond Rs.50,000 Maintaining up a database of the borrowers for statistical measures.
NABARD
CBs
NBFC SHGs
Mission of MFIN
MFINs primary objective is to work towards the robust development of the microfinance sector, by promoting: Responsible lending Client protection Good governance and A supportive regulatory environment
Vision
To be an engine of inclusive growth for India and help provide financial services to 100 million low income households by the year 2020, in a responsible and transparent manner.
MFINs Members
Currently MFIN member organizations consist of 42 of the leading NBFC-MFIs whose combined business constitutes over 90% of the Indian microfinance sector (excluding SHGs). MFIN members currently have operations in 576 districts across 26 states.
Members NBFC-MFIs
Branches Employees Clients Gross loan Portfolio Loan Disbursements
42
9,341 61,750 2,25,13,615 Rs. 1,69.41 bn Rs. 55.77 bn
New Membership
MFIN membership currently consists of 42 NBFC MFIs who on aggregated business constitute 85% of microfinance business in India (excluding SHGs).
Current Scenarios
RBI rejects micro finance institutions demand for 26 % lending cap removal. SKS gears up to restart ops in Andhra Pradesh. IFC Works with Indias Microfinance Institutions Network to Promote Greater Credit Reporting.