About Us

About Us

In the decade leading up to 2009, the Non-Bank Finance Company-Micro Finance Institution (NBFC-MFI) model proved itself to be a viable and sustainable means of providing access to finance and meet the financial requirements of the bottom of the pyramid population. As a dedicated credit delivery channel for vast un-banked/under-banked segments, NBFC-MFIs have been playing a significant role in taking forward the Financial Inclusion agenda of the Government of India. What sets NBFC-MFIs apart is the fact that they do not depend on grants or subsidies to provide unsecured loans people with low incomes and no access to the banking system. Instead, they have used market oriented solutions that encourage self-reliance and entrepreneurship amongst its clients.

By 2009, NBFC-MFIs were contributing to a significant proportion of the aggregate Microfinance activity in India. In FY2009-10, this class of institutions had, at a pan-India level, succeeded in reaching out to over 23 million low income clients with total lending in excess of Rs 1800 Crores. As the NBFC-MFI industry grew, so did its need for transparency and better governance. It was against this backdrop that the industry felt the need for an organization that would establish a framework for fair practices and client protection for NBFC-MFIs and promote the development of a robust Microfinance industry in India.

Who We Are

who

MFIN was established in October 2009 as a Society under the Andhra Pradesh Societies Registration Act 2001. As per MFIN Bye-Laws, all NBFCs registered with the RBI as NBFC-MFIs are eligible for membership of the Society. MFIN is to a large extent member funded. Its Governing Board comprises of Members elected from amongst the leadership of member MFIs. One third of the Board comprises independent Members.

The Reserve Bank of India (RBI) vide its letter dated 16th June, 2014 accorded recognition to MFIN as Self Regulatory Organisation (SRO) of NBFC-MFIs.

MFIN works closely with regulators and other key stakeholders and plays an active part in the larger financial inclusions dialogue through the medium of microfinance.

MFIN Organogram

image

Figure: MFIN Organogram

Governing Board

Rakesh Dubey
President
CEO, SV Creditline Pvt Ltd.
Devesh Sachdev
Vice President
Cofounder & CEO, Fusion Microfinance Pvt. Ltd.
Meenal Patole
Promoter and CEO, Agora Microfinance India Limited
Dibyajyoti Pattanaik
Director, Annapurna Microfinance Pvt. Ltd.
Mohammad Nooruddin Amin
Managing Director of Adhikar Micro finance Pvt Ltd
Udaya Kumar
Managing Director & CEO , Grameen Koota Financial Services Pvt Ltd
K M Vishwanathan
MD & CEO - M Power Micro Finance Pvt Ltd

Independent Board Members

Navin Kumar Maini
Retired Deputy Managing Director- SIDBI

MFIN – Bye-laws

Serial No. Details Issued On Enclosures
1 MFIN-Bye-laws 26th May, 2015 Download

Secretariat

Ratna Vishwanathan
CEO
Achla Savyasaachi
Head - State Initiatives
Sugandh Saxena
Head - Advocacy and Development
Vaishali Mishra
Head - Communications and Marketing
Amit Mathur
AVP - Development and Information Hub
Devika Misra
AVP – Information Hub
Sheetal Prasad
AVP – Self Regulation and Compliance
Bhumika Panda
AVP – Communications and Marketing
Sankalp Tripathi
Manager, Grievance Redressal
Jay Tripathi
Manager, Regulation and Surveillance
Jatinder Handoo
AVP North – State Initiatives
Mrinal Pant
AVP Central – State Initiatives
Habib Shaikh
AVP East – State Initiatives
Suyog Pradhan
AVP West – State Initiatives
PM Kamalesh
AVP South – State Initiatives
Sharad Garg
Manager – Operations
Shantanu Kumar
Accounts Officer