CRISIL releases Top 50 Microfinance Institutions in India
08 Oct 2009
Mumbai: CRISIL has published a path-breaking study on the microfinance sector in India, titled Top 50 Microfinance Institutions in India,at a CRISIL seminar, 'Microfinance Lending: a Growth Engine for the Indian Economy'.
The publication presents an overview of the leading players in India's microfinance institution segment (MFI), and includes a comprehensive commentary on the sector.
''This is a seminal initiative by CRISIL, creating a wealth of information in an area where lenders and investors earlier had very little to rely on," said Umesh Chandra Sarangi, chairman, National Bank for Agriculture and Rural Development (NABARD), who was the the chief guest at the seminar.
Sarangi added, "I am sure the publication will add to the interest in the sector, and lead to increased transparency among MFIs.''
Speaking at the seminar, Roopa Kudva, managing director and CEO, CRISIL Ltd, said, ''The publication is part of CRISIL's enabling role in the structured evolution of the MFI sector. As part of CRISIL's continuing initiative to create greater awareness amongst market participants, the book will be freely available, and can be downloaded from our website.''
Over the past two years, the MFI sector has recorded strong business growth and increasing geographic diversity. This has been enabled principally by greater investor interest in the sector, and the consequent strengthening of MFIs' balance sheets.
