Strengthening of over 65 MFIs in India

• Oct 30, 2018
• 1 min

MSC worked to strengthen over 65 MFIs in remote and rural areas in India. As a result of MSC’s work, three MFIs transformed to become small payments banks, while together, the 65 MFIs now serve more than 40 million customers.

MSC worked to strengthen over 65 MFIs in remote rural areas of India for the Royal Bank of Scotland Foundation and DIA Vikas. Under the program, MSC undertook the following activities:

1. Helped partner institutions conduct market research, develop strategic business plans, design, test and rollout products, set-up robust systems and processes, manage risks, and optimize financial reporting systems;
2. Trained local consultants to provide sustainable technical assistance;
3. Developed a “MFI-in-a-box” toolkit for wider use of the practical and ready-to-use tools, templates, and material prepared under the program.

Three of the MFIs supported have now transformed to become small payments banks. Together, the 65 MFIs now serve more than 40 million customers.