MFIN SRO Workshop on 10-11th October
MFIN hosted a two-day SRO Workshop on “Self-Regulation and Compliance” on the 10th and 11th October 2017 in Gurugram. The keynote address on the regulatory aspects was given by Shri. C.D. Srinivasan, CGM, DNBR, RBI. The event was segregated into various sessions focused on SRO mandates, Regulations and Compliances with respect to Grievance Redressal Mechanism, Credit Bureau, KYC Standards and other regulatory aspects to be followed by NBFC-MFIs. Additionally, separate sessions were conducted on Third Party Evaluation, calendar of submission of reports and trackers to the SRO, Dispute Resolution Process and Governance Committees of SRO.
HR & PR Workshop held on 23rd & 24th August
MFIN hosted the second in series Workshop on Human Resource in New Delhi on the 23rd & 24th August, 2018. The event brought together Human Resource and Communications & Public Relations Representatives from the member NBFC-MFIs under one roof. Various topics like operationalisation and utilisation of HR Bureau, requirement for a common skilling platform particularly for field staff, exposure to various Best HR Practices within the industry were discussed. The key initiatives on Human Resources that have been introduced by MFIN are Equifax Employee Database, Talent & Reward Dipstick & new initiatives on Code of Conduct for loan officers. The second day included a session titled “Media and Messaging – dealing with the media” which was delivered by Dr. Sanjay Nigam, Consulting Strategy, Perfect Relations.
HSBC Project Regional Workshops held in Feb-March
Digitalizing cash-based operations has the potential to bring a host of benefits to MFIs as it mitigates cash carrying risks and improves operational efficiency by saving time for frontline staff. It was under this context that MFIN, conducted a pilot project funded by HSBC India and supported by six NBFC-MFI members in eight states across 16 branches. The project aimed at finding an appropriate model to provide a basic standard of digital engagement to facilitate cashless collection of repayments. With the successful execution of the pilot, four regional workshops were organised in Kolkata, Mumbai, Delhi and Bangalore for knowledge dissemination, attended by NBFC, NBFC MFI, Banks, Fintech, Regulators and Telecom firms.
RBI’s Depositor Education Workshops held in July – August
RBI entrusted MFIN with the task of conducting 2250 workshops to educate the depositors on the various financial aspects of banking under the aegis of its Depositor Education and Awareness (DEA) Fund Cell. The project comprised of three phases (i) Pilot, (ii) Training of Trainers (ToTs) and (iii) Delivery of workshops in selected districts by various partner MFIs of MFIN. Based on the Pilot experience, MFIN successfully conducted the 8 Training of Trainers (TOTs) of partner MFIs in 8 TOTs in Patna, Mumbai, Chennai, Bhubaneshwar, New Delhi, Lucknow, Kolkata & Ranchi where 230 trainers of 41 MFIs were trained as master trainers. The final stage of executing 2,250 workshops involves an agreement with 40 Members that will commence soon.
Workshop on Compliance held on 13 - 14th June
MFIN organized a two-day workshop on Compliance in Hyderabad on 13th-14th June 2019. The workshop focussed on:
Regulatory (RBI, IRDA, SEBI)
State specific compliances such as PID Act, Shop & Establishment Act, Minimum Wages
Information & Technology
Workshop on Field Operations and HR Risks held in October
MFIN, in association with MicroSave, organised a workshop in Gurugram on 11th October 2019 that brought together senior practitioners from HR, Risk and Operations (MFIN Members) and external experts to develop a deeper understanding of the key operational challenges. The discussion methodology included identifying and listing the key risks, articulating the problems, and finally mitigating strategies. The key HR Risks identified were attrition of field-staff, recruitment & training of staff commensurate with growth, lack of appropriate HR policies to enhance employee engagement, limited support to protect employee against client atrocities and ever increasing staff frauds while the Operational issues highlighted were client over-indebtedness, rising influence of ring leaders in field operations, poaching of clients and employees by competitors, risk of carrying cash in the field and dwindling of rigour in client selection processes followed by MFIs.
Workshop on Microfinance Institutions Rating held on 29th July
Banker’s Institute of Rural Development (BIRD), Lucknow and MFIN jointly organised a workshop on Microfinance Institutional Ratings on 29th July 2019 in Lucknow with support from NABARD. The basic premise was to initiate a dialogue on the need for funding support to the small and medium sized MFIs to enable them to grow and become sustainable and contribute to financial inclusion. In this context, MFIN made a presentation on “Performance benchmarks by institutional sizes and the need for reviewing rating framework The roundtable was attended by senior officials of NABARD and BIRD, Rating Agencies and 21 MFIN members including NBFC-MFIs, Banks, SFBs, and Corporate BCs.