MFIN rolled out its Associateship programme in January 2014. This was done with the understanding that stakeholders other than NBFC-MFIs who have a lasting bearing on the financial inclusion dialogue and are of immense value to the sector need to interact and work with each other to fuel the larger goal of financial inclusion. The Associates are a valuable part of MFIN’s construct and there is a constant dialogue with them at various forums including at the state and district levels. MFIN includes the following institutions in its Associateship programme – Banks, NBFCs, Housing Finance Companies, Insurance Companies, Business Correspondents, Private Equity Social Investors, Think Tanks and Foundations.

Associate Subscription Fee

  1. One time Application Fee : INR 51,000
  2. Subscription fee Structure

Note: New Associates of the Society shall pay the annual subscription fee each year as recommended by the Board and ratified by the AGM. Calculation of fee for new associates shall be on a prorate basis for the quarter in which they have joined and the remaining quarters of the budget year.
Reference for Associate Application Form Download

Voices from our Associates:

We are proud of our association with MFIN from the time that we were an NBFC-MFI and  are pleased to have continued the association even after getting the banking license. At Fincare Small Finance bank, our view is that irrespective of the legal format, a common body governing the entire JLG business is an absolute essential and MFIN has played this role in a very efficient and diligent manner.

It is heartening to see MFIN stepping up advocacy and intervention on sensitive topics like loan waivers, natural calamities etc. We believe that in future, MFIN should consider consolidating its efforts in the areas of a. participation in employee bureaus and b. identification of negative database of ring leaders, in order to further strengthen the microfinance sector.

-Mr Soham Shukla Chief Operation Officer – Rural Banking, Fincare Small Finance Bank

I view our association with MFIN as being mutually beneficial. MFIN has been receptive to our feedback as a lender to MFIs & has been forthcoming in sharing information about their primary members. MFIN being the premier industry body & SRO in the microfinance sector has been at the forefront in driving responsible lending practices. MFIN has been engaging closely with banks & MFIs alike to help them understand and effectively address the developments & challenges in this evolving sector.

-Mr. Tapobrat Chaudhuri Senior Vice President, Kotak Mahindra Bank

It is indeed a pleasure to see MFIN evolving into a formidable sector wide body, recognizing the role of players such as BCs and opening up to make space for associate members in its governance. MFIN is regarded as a strong voice among policy makers and practitioners alike. The kind of activities taken up off late by MFIN and its state chapters, be it in managing the political risk, coordinating an HR bureau, arranging much needed funding to members through a common platform or championing mutually agreed COC, are highly commendable. Proud to be an associate member of MFIN and look forward to working together in further strengthening the sector.

- Mr. Sasidhar Thumuluri CEO, BASIX Sub-K

The mission of Sampark Fin Services is to create opportunities for the people who are inadequately served and to augment their income by furnishing them with financial services. For that, MFIN is providing us a platform to connect with other MFIs, stakeholders & regulators to gather ideas on how the MFI market is functioning. The contribution of MFIN in sharing knowledge as well as advocating for sustainability of micro finance industry with the regulators is laudable as it has been a great help to all its members & associates to take key decisions.

We are expecting a long & continued relationship with MFIN and work together for the common objective of Financial Inclusion of poor households.

-Mr. Jugal Kishore Pattnayak MD, Sampark Fin Services Pvt Ltd