MICROFINANCE INSTITUTIONS (MFIS)
Microfinance Institutions (MFIs) are financial entities that provide small loans, savings, insurance, and financial services to low-income individuals excluded from the formal banking system. They primarily serve rural poor, women, and micro-entrepreneurs through models like Self Help Groups (SHGs) and Joint Liability Groups (JLGs), working under RBI regulations. MFIs are central to India’s financial inclusion…