{"id":13987,"date":"2018-08-30T12:44:19","date_gmt":"2018-08-30T12:44:19","guid":{"rendered":"https:\/\/www.legalraasta.com\/blog\/?p=13987"},"modified":"2026-04-08T11:17:05","modified_gmt":"2026-04-08T05:47:05","slug":"nbfc-mfi-directions-in-india","status":"publish","type":"post","link":"https:\/\/www.legalraasta.com\/blog\/nbfc-mfi-directions-in-india\/","title":{"rendered":"Micro Finance Institutions&#8217; (NBFC-MFIs) \u2013 Directions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.legalraasta.com\/blog\/nbfc-mfi-directions-in-india\/#Introduction\" title=\"Introduction\">Introduction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.legalraasta.com\/blog\/nbfc-mfi-directions-in-india\/#NBFC-MFI_Directions\" title=\"NBFC-MFI Directions\">NBFC-MFI Directions<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Introduction\"><\/span><strong>Introduction<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the second quarter review of monetary policy, a sub-committee was constituted to study issues and concerns in the MFI sector in November 2010. But the committee submitted the report in January 2011. It has been announced under the monetary policy Statement 2011-2012 that the framework recommended\u00a0by the committee is accepted by the Bank. There are several categories under NBFC name. Likewise, the<a href=\"https:\/\/www.legalraasta.com\/blog\/obligations-under-pml-rules-nbfcs\/\" target=\"_blank\" rel=\"noopener\"> Non-banking financial company<\/a> has a separate category by the name of Micro-finance Institutions (NBFC-MFI). In this article, we will let you know the NBFC-MFI Directions. These Directions shall come into existence with effect from 2 December 2011. To know about <a href=\"https:\/\/www.legalraasta.com\/blog\/regulations-for-nbfcs\/\" target=\"_blank\" rel=\"noopener\">NBFCs regulations<\/a> you can follow our <a href=\"https:\/\/www.legalraasta.com\/blog\/\" target=\"_blank\" rel=\"noopener\">blog<\/a> as well as <a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\">register NBFC<\/a> here.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NBFC-MFI_Directions\"><\/span><strong>NBFC-MFI Directions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There are certain NBFC-MFI Directions given by Reserve bank of India (RBI) that has to be followed. These are:<\/p>\n<ul>\n<li><strong>Entry Point Norm<\/strong>: all NBFC-MFI (excluded North Eastern Region) of the country must have a minimum net owned funds of 5 crores. Whereas NBFC-MFI located in the north-eastern region must have a minimum Net owned funds of 2 crores for the <a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\">NBFC Registration<\/a>. There is a different implementation of asset classification and provisioning norms for NBFC- MFIs to 1 April 2013.<\/li>\n<li><strong>Prudential Norms<\/strong>: There are several parts in a single head:<\/li>\n<\/ul>\n<p>1.\u00a0<strong>Capital Requiremen<\/strong>t: it is mandatory for all new NBFC-MFI to maintain a capital adequacy ratio consisting of Tier I and Tier II Capital and that shall not be less than 15% of its aggregate risk-weighted assets. After totaling, the amount of Tier II capital must not exceed 100% of Tier I capital. The CRAR for NBFC-MFI having more than 25% loan portfolio in the Andhra Pradesh will be at 12% only for the year 2011-2012. Afterward, it is mandatory to maintain up to 15% CRAR.<\/p>\n<p>2.<strong>\u00a0Asset Classification and Provisioning Norms<\/strong>: Assets are classified as (a) Standard assets\u00a0 (b) Nonperforming assets<\/p>\n<p>The standard asset is defined as the assets in respect of which no default in payment or repayment of interest is perceived. Besides, that neither reveals any problem nor having more than normal risk attached to the business.<\/p>\n<p>Nonperforming assets are defined as the assets for which interest or principal payment has remained overdue for 90 days or can be more.<\/p>\n<p>Under-provisioning\u00a0Norms, loan provisions are to be maintained by NBFC-MFI at any point but it should not be less than the higher of 1% of the outstanding loan portfolio\/ 50% of the aggregate loan installments that are overdue for more than 90 days and less than 180 days and 100% of the aggregate loan installments which are overdue for 180 days or more.<\/p>\n<p>3.\u00a0<strong>Pricing of Credit:\u00a0<\/strong>Every new NBFC-MFI must maintain an aggregate cap which should not be more than 12%. The individual loans of interest shall not be exceeded 26% p.a and must be calculated by reducing balance basis. Moreover, processing charges shall not be more than 1% of gross loan amount.<\/p>\n<p>4.\u00a0<strong>\u00a0Fair Practices in Lending: <\/strong>NBFC-MFIs are allowed as per NBFC-MFI Directions to lend any individual borrowers even when they are not a member of a joint liability group (JLG) or self-help group. But a borrower is not allowed to be a member of more than one SHG\/JLG. Even not more than two NBFC-MFI can lend to the same borrower.<\/p>\n<p>5.\u00a0<strong>Corporate Governance:\u00a0<\/strong>If any NBFC wants to issue Master Circular then it will be issued on Corporate Governance vide CC NO. 187 dated 1 July 2011 will be applied to NBFC-MFI too.<\/p>\n<p>6. <strong>Improvement of efficiency<\/strong>: It is given in the guidelines that an NBFC-MFI\u00a0shall review the back office operations. Also, necessary investments in information technology and systems to achieve better control, simplify\u00a0procedures and reduce costs.<\/p>\n<p>For further more information regarding\u00a0 <a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\">NBFC registration<\/a>, <a href=\"https:\/\/www.legalraasta.com\/blog\/nbfc-mfi-registration-and-requirements\/\" target=\"_blank\" rel=\"noopener\">N<span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;NBFC Micro Finance Institution Requirements &amp; Registration&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">BFC Micro Finance Institution Requirements &amp; Registration<\/span>\u00a0<\/a> \u00a0 \u00a0 you can visit our website: <a href=\"https:\/\/www.legalraasta.com\/\" target=\"_blank\" rel=\"noopener\">Legal Raasta<\/a><\/p>\n<p>Give us a ring at 8750048585 and you can send your query on Email: <a href=\"mailto:contact@legalraasta.com\" target=\"_blank\" rel=\"noopener\">contact@legalraasta.com<\/a><\/p>\n<blockquote>\n<p>Related Articles:<\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/buying-and-selling-of-nbfcs-in-india\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Buying and selling of NBFCs in India&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Buying and selling of NBFCs in India<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/prerequisites-nbfc-registration\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;pre requisites of nbfc&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Pre-requisites of NBFC<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/withdrawing-exemptions-for-government-nbfcs\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;RBI hitting on Government owned NBFCs \u2013 Withdrawing Exemptions!&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">RBI hitting on Government owned NBFCs \u2013 Withdrawing Exemptions<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<\/blockquote>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction In the second quarter review of monetary policy, a sub-committee was constituted to study issues and concerns in the MFI sector in November 2010. But the committee submitted the report in January 2011. It has been announced under the monetary policy Statement 2011-2012 that the framework recommended\u00a0by the committee is accepted by the Bank. There [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":13864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141],"tags":[318,319,317],"class_list":["post-13987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nbfc","tag-micro-finance-directions","tag-micro-finance-institutions-direction","tag-nbfc-mfi-directions"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NBFC-MFI Directions in India | Online Learning | Legal Raasta |<\/title>\n<meta name=\"description\" content=\"The Non-banking financial company has a separate category by the name of Micro-finance Institutions. 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