micro finance institution network in india
Post on 03-Apr-2018
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Microfinance Institution Network Microfinance Institutions Network (MFIN) is an association
for the microfinance sector in India. Its member organizationsconstitute 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 asthe primary representative body of NBFCs & MFIs engagedin the business of Microfinance. Since its establishment,MFIN has been promoting the key objectives of Microfinancein India and as the Self-Regulatory Organization for theindustry, has been working to establish guidelines for responsible lending and client protection.
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MFIN,s Core area of Operation
Self Regulation of MFIs. Policy Advocacy for operation of business.
Development of Microfinance Institution. Quality of lending and transparency. Coordination among MFIs & healthy
competition. Grievances redressal mechanism. Self discipline etc.
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Microfinance Networking
Objectives MFIN was created to promote the key
objectives of microfinance. MFIN seeks to work closely with regulators and
other key stakeholders to achieve larger financial inclusions goals through microfinance.
MFIN is a primary representative body and theself Regulatory Organization (SRO) for NonBanking Finance Companies (NBFC) and MFIs
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Microfinance Networking
Objectives MFIN's internal whistle
blowing mechanism tries not to charge
beyond RBI suggested rates. It establishment for efficient mechanism of
MFIs.
Setting of framework for fair practices andclient protection.
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Code of CONDUCT
INTEGRITY AND ETHICAL BEHAVIOUR TRANSPARENCY CLIENT PROTECTION GOVERNANCE RECRUITMENT
CLIENT EDUCATION DATA SHARING FEEDBACK/ GRIEVANCE REDRESSAL
MECHANISM
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Work of MFIN
Validation of client for lending money. Only two MFIs can lend to one borrower
and both together cannot provide loansbeyond Rs.50,000
Maintaining up a database of the
borrowers for statistical measures.
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FLOW OF MONEY TO MFIS
Ministry of Finance
Reserve Bank of India
NABARD
NBFC SHGs
CBs
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Mission of MFIN
MFINs primary objective is to work towardsthe robust development of the microfinancesector, by promoting: Responsible lending Client protection
Good governance and A supportive regulatory environment
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Vision
To be an engine of inclusive growth for Indiaand help provide financial services to 100million low income households by the year 2020, in a responsible and transparentmanner.
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MFINs Members Currently MFIN member organizations consist of 42 of
the leading NBFC-MFIs whose combined businessconstitutes over 90% of the Indian microfinance sector (excluding SHGs).
MFIN members currently have operations in 576 districtsacross 26 states.
Members NBFC- MFIs 42
Branches 9,341Employees 61,750
Clients 2,25,13,615
Gross loan Portfolio Rs. 1,69.41 bn
Loan Disbursements Rs. 55.77 bn
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New Membership
MFIN membership currently consists of 42NBFC MFIs who on aggregated businessconstitute 85% of microfinance business inIndia (excluding SHGs).
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Partnership & Collaboration International Finance Corporation (IFC) Micro Finance Center (MFC), Poland
The Smart Campaign Grameen Foundation SEEP Network
Microfinance Information Exchange Microfinance Transparency (MFT)
http://www.ifc.org/http://www.mfc.org.pl/http://www.smartcampaign.org/http://www.grameenfoundation.org/http://www.seepnetwork.org/http://www.themix.org/http://www.mftransparency.org/http://www.mftransparency.org/http://www.mftransparency.org/http://www.themix.org/http://www.themix.org/http://www.themix.org/http://www.seepnetwork.org/http://www.seepnetwork.org/http://www.grameenfoundation.org/http://www.grameenfoundation.org/http://www.grameenfoundation.org/http://www.smartcampaign.org/http://www.smartcampaign.org/http://www.mfc.org.pl/http://www.mfc.org.pl/http://www.ifc.org/http://www.ifc.org/ -
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Current Scenarios
RBI rejects micro finance institutionsdemand for 26 % lending cap removal.
SKS gears up to restart ops in AndhraPradesh.
IFC Works with Indias MicrofinanceInstitutions Network to Promote Greater Credit Reporting.
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Queries Are Welcome !!!
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