(MFIN) is the Industry Body & RBI approved SelfRegulatory Organisation (SRO) of Non-Bank Finance Company Micro Finance Institutions (NBFC-MFIs) in India. Set-up in the year 2009 as the primary representative body of the NBFCs engaged in the business of microfinance, the overarching aim of all that MFIN does is to achieve MFIN’s mission of promoting robust development of the microfinance industry and thereby facilitate access to finance to millions of un-served and underserved people in India.
In its SRO role, MFIN works in areas such as surveillance, client grievance redressal, investigation and client education.The industry has a Code of Conduct which MFIN ensures is followed through an Enforcement Committee. MFIN and its members have made enormous efforts in developing the Credit Bureau ecosystem for the microfinance clients. MFIN works closely with the regulators and other key stakeholders and plays an active part in the larger financial inclusions dialogue through the medium of microfinance. As on 30th June 2014, MFIN member organizations, consist of 47 of theleading NBFC-MFIs whose combined business constitutes over 90% of the Indian microfinance sector. MFIN members currently have operations in 488 districts across 30 states/unionterritories.