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Tuesday, February 8, 2011 - 17:25
“Acting responsibly is almost against human nature – we always seem to need external restraints.” At the recent Responsible Finance Forum, Alok Prasad (CEO of MFIN, the association of Indian commercial MFIs) offered a hard-hitting assessment of what went wrong in Andhra Pradesh, focusing on how investors contributed to the situation and what they can do to help avoid other “APs.” The room was full of institutional investors, DFIs, and fund managers, more than 40 of whom had just signed the “Principles for Investors in Inclusive Finance.”
Alok ticked off the ingredients in the “potent cocktail” of the crisis. First, five...
Friday, November 12, 2010 - 16:11
The past few years have seen the entire microfinance sector grow exponentially. As with any other boom, suspicion always exists on whether a bust is just around the corner. This is especially true in the current international setting; with a major financial bust that humbled Alan Greenspan to admit he was “in a state of shocked disbelief”. In hindsight, it might seem obvious that the years of heady growth directly resulted in the sub-prime crisis and credit crunch. This heightens the sense of unease over the rapid growth of the microfinance industry and one is often seized of whether we are sitting on a bubble waiting to burst.
Daniel Rozas’ piece in an edition of...
Wednesday, November 3, 2010 - 23:35
Mr. Vijay Mahajan , President , Microfinance Institutions Network (MFIN), a self-regulatory organization (SRO) of 43 Indian NBFC – Microfinance Institutions, share the activities and functions of MFIN , enforcement process of code of conduct , vision and road map in an exclusive interview with Microfinance Focus`s Editor in Chief Vikash Kumar. Mr. Mahajan is also the Chairman BASIX, a group he founded in 1996, working in the field of Microfinance and Livelihoods promotion. Vijay co-founded PRADAN in 1983, Sa-dhan in 1998 and APMAS in 2000.
What are the expectations of MFIN from government and regulators?
Mr. Mahajan: Right now, we have not formulated what...
Wednesday, November 3, 2010 - 23:29
Established in the wake an unprecedented growth in the Indian microfinance space, MFIN (Microfinance Institutions Network) will make constructive efforts to deal with the issues of the sector, says it newly appointed Chief Executive Officer, Alok Prasad, in an exclusive interview with Microfinance Focus.
With over 40 major industry players as its members, MFIN was formed in December 2009 and is governed by a self-regulatory code of conduct to promote good governance and customer protection. The network requires member-MFIs to adopt certain processes and be subject to certain limitations that will limit over-lending to a borrower. It is viewed to be instrumental in...
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