M-CRIL is licensed by the Microfinance Institutions Network (MFIN) to conduct Third Party Evaluations of self-assessment data reported by MFIN MFI members.
As a Self-Regulatory Organization (SRO) for Non Banking Finance Companies Microfinance Institutions (NBFC-MFIs), MFIN has developed an Industry Compliance Index tool that draws from RBI Fair Practices Code and the Network Code of Conduct.
MFIN members self-assess their performance on the parameters of the tool and report to MFIN on a half-yearly basis. The TPE is a validation of the self-assessment, covering:
- Industry Compliance Index
- Disclosure to customers
- Customer engagement
- Institutional processes
- Grievance redress mechanism
- Compliance with Credit Bureau norms
- Compliance with MFIN’s KYC standards
- Observations from the field.
M-CRIL validates through a standard process of senior management interviews, document review, and field interactions with staff and clients at selected branches.
Contact our Vice President Shraddha Jha, firstname.lastname@example.org for more information.