India RFF | Tools

Code of conduct Assessment reports of Indian MFIs

With the objective of promoting responsible lending among MFIs, SIDBI with support from World Bank conducted code of conduct assessments of a total of 62 MFIs in the country. The assessments monitor the compliance of the MFIs to the Unified code of conduct of Responsible Finance Forum. The assessments reports are available here.

Responsible Business Index

The Responsible Business Index is a self-assessment tool all Members use to draw up a compliance and performance score card. It collectively assesses Members’ business principles, policies and practices. It is a tool to help individual NBFC-MFIs to systematically measure, manage and integrate Responsible Business Practices through Gap analysis, Benchmarking and Tracking progress.

The index comprehensively covers the Reserve Bank of India’s Fair Practice Code and Industry Code of Conduct under four broad areas which are further divided in 83 sub-parameters to form the maximum total score of 100.

Grievance Redressal and Tracking tool

The objective of the grievance resolution mechanism is to provide clients with a convenient, simple, low cost and effective process for settlement of individual grievances. There is a two tier structure of Grievance Redressal in the Microfinance Industry. The first level is to be with the MFIN member institutions and the second level to be with MFIN.