What is NBFC - Microfinance Institution (MFI – NBFC) | Types

What is NBFC - Microfinance Institution (MFI – NBFC)

Microfinance is the financial service that provides access to various financial services such as credit, savings, micro-insurance, remittances, leasing to low-income individuals including consumers and the self-employed, who traditionally lack access to banking and related services. The main objective is to provide a permanent access to appropriate financial services which include insurance, savings, and fund transfer. It plays a significant role in bridging the gap between the formal financial institutions and the rural poor. Micro Finance Institution has become more widely accepted and moves into main stream, the supply of services to poor may also increase, improving the efficiency and outreach while lowering the costs.

2025-08-04685Vinay Singh

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What is NBFC - Microfinance Institution (MFI – NBFC)

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About the Author

Vinay Singh

Co-founder & Fintech Advisor

Vinay Thakur is Managing Partner in Corpseed. He focused on payments, digital transformation, and financial technology for over 15 years and holds strong expertise on fintech startups, banking innovation, and investors with a keen understanding of the trends and activities of startups, banks, and investors in the space.

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