F.1. Types of MFIs
There are several types of MFIs operating in India, including:
Self-help group-based MFIs |
These organizations work with self-help groups to provide small loans and other financial services. |
Microfinance companies |
These for-profit companies provide microloans and other financial services to small businesses and low-income individuals. |
Non-profit MFIs |
These organizations provide microloans and other financial services to low-income individuals and small businesses, to promote economic development and improve the well-being of disadvantaged communities. |
MFIs in India have faced challenges in the past, including high interest rates and issues related to over-indebtedness. However, the sector has continued to grow and has had a positive impact on the lives of many people in the country.