National Level
As an SRO and industry body, MFIN has consistently initiated and engaged in policy related conversations. MFIN relies on a data driven, analytical approach to communicate its concerns and recommendations to the regulator and the government. The MFIN CEO’s participation in bi-monthly pre-MPC discussions with the RBI Governor and pre-budget consultations with Hon’ble Finance Minister provides an overarching framework for interactions with State Governments, Rating Agencies, Development Financial Institutions (DFIs), Banks and Media. MFIN works closely with the Department of Regulation (DoR) and the Department of Supervision (DoS), RBI.
MFIN has established four Task Forces (Advocacy & PR, Credit Bureau, State Initiatives and Small MFIs) for focused action on specific areas that are considered critical from an overall industry standpoint. These Task Forces comprise representatives from member institutions who help drive specific initiatives with the support of the MFIN Secretariat.
MFIN engages with the key stakeholders of the microfinance industry including Reserve Bank of India (RBI), National Bank for Agriculture and Rural Development (NABARD), Ministry of Finance (MoF), Micro Units Development & Refinance Agency (MUDRA), Small Industries Development Bank of India (SIDBI), Insurance Regulatory and Development Authority (IRDA), Insolvency and Bankruptcy Board of India (IBBI) and Unique Identification Authority of India (UIDAI).
MFIN is also a part of various think tanks and discussion forums including the RBI’s Financial Inclusion Advisory Committee, the MUDRA Board, PSIG Think Tank, and the Access Assist Advisory Group.
National Level Advocacy
CEO, MFIN attended the Pre-Budget consultation meeting for the BFSI sector, chaired by the Hon'ble Finance Minister, with the CEA and officials from DEA and DFS also present.
CEO, MFIN met Shri SC Murmu, DG, RBI where work of MFIN as SRO, CIC issues and co-lending were discussed.
CEO, MFIN at the meeting chaired by Secretary, DFS, Ministry of Finance to discuss targeted points pertaining to the sector.
State and District Level
MFIN’s State Initiatives team plays a key role in ensuring seamless operations for Member Regulated Entities through continuous engagement with state and district administrations, borrowers, and field teams. The team undertakes proactive advocacy with government authorities to address operational issues and responds promptly to emerging developments through field visits and stakeholder consultations. It also monitors print, electronic, and social media on a daily basis, verifies sector-related reports, escalates critical issues to the concerned state and district authorities and RBI Regional Directors, and, where required, facilitates appropriate rebuttals to misinformation.
To further strengthen these efforts, MFIN works closely with State Governments through the Task Force on State Initiatives, which serves as a key platform for engagement with stakeholders at the regional, state, and district levels. Through this mechanism, MFIN interacts with legislators, government officials, district administration, law enforcement agencies, regulators, and other institutional stakeholders to foster a better understanding of the objectives, implementation, and impact of responsible microfinance. These engagements help build consensus, strengthen coordination, and create an enabling ecosystem for the sustainable growth of the sector.
contact@mfinindia.org
1800 102 1080