MFIN is the national organisation of Microfinance NBFC’s in India and consists of those microfinance companies which are regulated by the Reserve Bank of India. Initially 31 Non Banking Finance Companies involved in Microfinance came together to form MFIN.
MICROFINANCE INSTITUTIONS NETWORK INDIA
Microfinance Institutions Network (MFIN) is a self-regulatory organization of NBFC MFIs that aims to work with regulators to promote microfinance to achieve larger financial inclusion goals.
MFIN is supported by Omidyar Network, a philanthropic investment firm, and the International Finance Corporation (IFC), a member of the World Bank Group. Omidyar Network is funding the project to support MFIN in its above efforts. IFC is providing advisory services and technical consultancy to Alpha in its effort to get the credit bureau services being made available to the MFI sector.
The Board of MFIN currently consists of Vijay Mahajan (Chairman, Basix) as Chairman, Chandrasekar Ghosh (CEO, Bandhan), Rekam Jayasurya (CEO, Asmitha), Shubhankar Sen Gupta (CEO, Arohan) , Ajay Verma (MD & CEO , Sahayata Microfinance), H P Singh (CMD, Satin Creditcare Network), Samit Ghosh (CEO, Ujjivan) and P.N.Vasudevan (MD, Equitas Microfinance) as Directors.
ALPHA MICRO FINANCE CONSULTANTS P LTD
MFIN members have invested in Alpha Micro Finance Consultants P Ltd (Alpha), which in turn has invested Rs. 2 Crore in setting up a credit bureau which will help improve credit risk management within the sector and ensure multiple borrowing and over indebtedness is checked
LATEST LIST OF MFIN MEMBERS
1. Anjali Micro Finance
2. Arohan Financial Services Ltd
3. Asirvad Microfinance Ltd.
4. Asmitha Microfin Ltd.
5. Bandhan Financial Services Pvt Ltd
6. Bhartiya Samruddhi Finance Ltd
7. BWDA Finance Ltd
8. CDC Microfinance Pvt. Ltd
9. Credible Micro Finance P Ltd
10. Equitas Micro Finance India Private Ltd
11. ESAF Microfinance and Investments P Ltd
12. Fullerton India
13. Grama Vidiyal
14. Grameen Financial Services P Ltd
15. Growing Opportunity
16. Hand in Hand
17. Janalakshmi Financial Services Pvt Ltd
18. L&T Finance
19. Madura Micro Finance Ltd.,
20. Mimoza Enterprise Finance Pvt Ltd
21. S.M.I.L.E. Microfinance Ltd / Mahasemam
22. Sahayata Microfinance P Ltd
24. Satin Creditcare Network Ltd
25. Share Microfin Ltd
26. SKS Microfinance Ltd
27. Sonata Finance Pvt Ltd
28. Spandana Sphoorty Financial Ltd
30. SWAWS Credit Coporation India (P) Ltd
31. Trident MicroFin P Ltd
32. Ujjivan Financial Services Pvt Ltd
33. Utkarsh Microfin
34. Village Financial Services Pvt Ltd