micro finance institution network in india

7/28/2019 Micro Finance institution network in india

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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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micro finance institution network in india

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