RBI accords self regulatory organisation status to MFIN

The Reserve Bank has recognised Micro Finance Institutions Network (MFIN), the industry association for the micro-finance industry, as a self regulatory organisation for NBFC-MFIs.

Micro finance industry's gross loan portfolio up 35% in FY14

The data was collected by Microfinance Institutions Network (MFIN), an association for the micro finance industry which has 46 NBFC-MFIs as its members.

MFIN to seek RBI nod to become SRO by month-end

"We have received approval from our board and will soon apply (to become an SRO)... Maybe by the end of this month," MFIN Vice-President Chandra Shekhar Ghosh said.

MFIs may challenge HC ruling; see 40 pc growth in FY'13

The MFIN is also expecting the industry to log in a healthy 40 percent growth this fiscal, after the last year's drought when the industry de-grew by a whopping 24-25 percent.