- Advocacy and Development
- Communication and Marketing
- State Initiatives
MFIN is organized into four verticals namely, Self-Regulation, Advocacy and Development, Communications and Marketing and State Initiatives to be able to focus on the priorities of the sector in an optimum manner. While previously policy advocacy was the primary focus and continues to be so, with the evolution of the sector there are various new functions that have become part of the framework. The Self-Regulatory function was part of RBI’s remit to MFIN to help supervise compliance at a more granular level on behalf of the Regulator. With the sector coming back into its own over the last five years, there was a felt need for greater engagement with external stakeholders and a strong communication strategy was thought to be the way ahead. With the industry growing steadily ground level issues are often key indicators of sectoral good health. With this in view the State Initiative team keeps continuously engaging with industry issues at a field level to ensure smooth functioning.
Self Regulation Organisation
- Act as the Self-regulatory organization for the microfinance sector and to regulate the business of microfinance as carried out by its members.
- Create, develop, distribute and publicise, sound development, operational and financial practices and minimum thresholds of performance for its members and to encourage other persons engage in the microfinance sector to adhere to and comply with such practices and thresholds.
Advocacy & Development
The CEO MFIN also is part of various think tanks and discussion forums including the RBI’s Financial Inclusion Advisory Committee, the MUDRA Board, the PSIG Think Tank and the ACCESS Assist Advisory Group.
Communication and Marketing
MFIN’s current membership consists of 50 leading NBFC– MFIs in the country which on an aggregate basis constitutes over 90% of the microfinance industry (excluding SHGs).