Latest news with #MFIN
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Business Standard
12 hours ago
- Business
- Business Standard
RBI's revised QA norms to boost compliance, broaden microfinance reach
The Reserve Bank of India 's (RBI's) revised qualifying asset (QA) criteria will enhance compliance while empowering institutions to build a more balanced portfolio, the Microfinance Institutions Network (MFIN) said on Monday. On Friday, the regulator relaxed the qualifying asset requirement for non-banking financial company-microfinance institutions (NBFC-MFIs) to 60 per cent of total assets, down from 75 per cent earlier. This means MFIs must now maintain 60 per cent of their assets in microfinance loans, instead of the earlier 75 per cent. The decision will enable NBFC-MFIs to extend their reach to the 'missing middle' — through products designed for clients transitioning to micro, small and medium enterprises (MSMEs), micro-housing, and related sectors, MFIN said. It added that the move would strengthen the sector's long-term sustainability while keeping the core microfinance mission intact. In a press release, MFIN said: 'The revised 60 per cent qualifying asset requirement is expected to enhance compliance across NBFC-MFIs by addressing the systemic reasons behind earlier breaches, and empower institutions to build a more balanced portfolio.' Over the past three years, MFIN has actively engaged with the RBI, advocating for a more realistic and balanced QA threshold that aligns with the policy objective of keeping NBFC-MFIs focused on microfinance, while also reducing the incidence of regulatory breaches. 'This regulatory change demonstrates the responsiveness of the RBI to the genuine demands of the industry,' said Alok Misra, CEO and Director of MFIN. 'It will help NBFC-MFIs remain in regulatory compliance at all times, diversify to some extent, and yet retain focus on microfinance.' This significant policy update is expected to ease compliance challenges and allow NBFC-MFIs to better serve microfinance clients while managing portfolio risks. The QA norm was originally introduced in 2011 when the RBI created the NBFC-MFI category, setting the threshold at 'not less than 85 per cent of its net assets,' with 'net assets' defined as total assets excluding cash, bank balances, and money market instruments. In March 2022, the RBI revised this to 75 per cent of total assets to offer flexibility and promote innovation in meeting evolving credit needs. However, the change inadvertently tightened the framework, leading to frequent breaches of the norm.
Business Standard
06-05-2025
- Business
- Business Standard
MFIN Unveils Online Certification Program to Empower and Transform Microfinance Workforce
PRNewswire Mumbai (Maharashtra) [India], May 6: Microfinance Industry Network (MFIN) today launched "ASCEND - The Education and Advancement program in microfinance" Programme, an online initiative to build professional capability, promote responsible lending, and enhance customer protection in India's microfinance sector. Designed for field officers, branch managers, and aspiring professionals, the programme aims to equip participants with essential knowledge in financial inclusion, regulatory compliance, credit appraisal, customer engagement, ethics, and digital transformation. The Certification Programme was launched by Dr Alok Misra, CEO & Director, MFIN along with Dr Nirupam Mehrotra, Director, Bankers Institute of Rural Development (BIRD) & Mr Ramamurthy Krishnan, President & CEO, NSEIT. Mr Manoj Kumar Nambiar, Chairman, MFIN, Managing Director, Arohan Financial Services Limited and Mr Vineet Chattree, Vice-Chairman, MFIN & Managing Director, Svatantra Microfin Pvt Ltd and Mr Gyan Mohan, Director and CEO, Adi Chitragupta Finance Ltd were also present at the launch. In collaboration with the Bankers Institute of Rural Development (BIRD) and supported by NSEIT's secure digital infrastructure, the Certification Programme provides comprehensive, industry-relevant training for frontline officers and managers, preparing them to champion financial inclusion and client protection across the microfinance sector. Speaking at the launch, Dr Alok Misra, CEO & Director, MFIN said: "Field officers are the backbone of the microfinance industry, connecting underserved communities to formal financial services. This certification program is a step towards recognizing their pivotal role, while providing them with guidance, knowledge, and ethical frameworks to serve clients better and foster responsible finance." The programme combines self-paced online modules with recorded expert sessions and live doubt-clearing interactions, offering a flexible and engaging learning experience. Participants engage with carefully curated content that includes case studies, regulatory updates, and practical insights tailored to the evolving landscape of rural development and banking. A robust assessment framework, featuring a comprehensive multiple-choice question bank aligned with key learning modules, ensures thorough evaluation. Certification is awarded upon successful completion of the assessments, with options for and extended learning support to help candidates achieve proficiency. Key highlights of the program: * Online, self-paced learning format with access to downloadable content, recorded and live doubt clearing sessions * Content covering microfinance operations, regulations, technology integration, and client protection * Proctored online assessments with industry-recognized certification jointly issued by MFIN and BIRD * Designed to build conceptual clarity, operational excellence, and ethical standards This certification is part of MFIN's broader capacity-building mandate to promote professionalism, enhance operational effectiveness, and drive a culture of client-centric, inclusive financial services across India's microfinance ecosystem. For more information on the Loan Officers Certification Program and enrollment details, visit MFIN's website.
San Francisco Chronicle
30-04-2025
- Business
- San Francisco Chronicle
Medallion Financial: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Medallion Financial Corp. (MFIN) on Wednesday reported profit of $12 million in its first quarter. The New York-based company said it had net income of 50 cents per share. The business development company posted revenue of $87 million in the period. Its adjusted revenue was $63 million. _____
