MFIN launched its Associate Programme in January 2014 with the objective of being more inclusive and taking into consideration the many entities, apart from NBFC-MFIs, who offer financial or supporting services to the Microfinance sector. As they have a lasting bearing on the financial inclusion dialogue, MFIN introduced this new category called ‘Associates’ to include lending institutions like Banks, Small Finance Banks, Banking Correspondents and NBFCs. Associates also includes a diverse set of organisations like Rating Agencies, Credit Bureaus, Housing Finance Companies, Insurance Companies, Fintech, Payment Banks, Private Equity Social Investors, Bilateral and Multi-Lateral Agencies, Think Tanks & Foundations, among others.
MFIN believes that all such entities along with its primary members can work together by participating in across MFIN forums particularly the state and district levels and thus achieve the larger goal of financial inclusion.
MFIN has 46 Associates as of May 2023.
Small Finance Banks
NBFC - Direct Lenders
NBFC - Wholesalers
The Associates Programme was institutionalised on the premise that MFIN and the Associates share a symbiotic relationship wherein they come together to work on certain policies and products that are beneficial to the sector. Some of the benefits of the programme are.