MFIN is organized in four verticals namely, Self-Regulation, Advocacy and Development, Communication and Marketing and State Initiatives at a top level in order 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 a part of the framework.
Surveillance: In exercising its role as a SRO, MFIN seeks to ensure that proper framework and processes are put in place by members to ensure adherence to the regulations stipulated by the RBI, the Fair Practices Code (FPC) and the Industry Code of Conduct (CoC), voluntarily adopted by the all Microfinance Institutions.Surveillance is carried out through:
Advocacy & Development
MFIN continued its engagement with key stakeholders of the microfinance industry, specifically with the Reserve Bank of India (RBI), Ministry of Finance (MoF), MUDRA/SIDBI, UIDAI and the Ministry of Urban Development.The focus of the dialogue with these entities has been to improve the policy and business environment for the microfinance industry in the country, so that it can contribute concretely to the national agenda on financial inclusion.
Communication and Marketing
MFIN’s communication and marketing strategy has focused primarily on building a positive perspective around the sector by engaging proactively with external stakeholders. This has included visioning and positioning efforts with relevant stakeholders and establishing MFIN as a knowledge center.MFIN has systematically over the past one year engaged with the media at the national, state and district level to build a positive and informed perception about the industry. In this context, MFIN organized a series of state and district level meetings including in Mumbai, Maharashtra; Bhopal, Madhya Pradesh; Lucknow, Uttar Pradesh; Patna, Bihar and in Rudrapur in Uttaranchal.
The MFIN State Initiative team has its presence in all the states either through state coordination committees that have been set up with MFIN members or through affiliated state associations. Presently, MFIN State Initiative covers 25 states through 13 state chapters and 411 district forums. State Initiative engages with three state associations that are affiliated to MFIN to cover two more states in the southern region and one in the northern region.