In which year was the Microfinance Institutions Network established?

Correct option is A

The Correct Answer is: (a) 2009

Explanation:
The Microfinance Institutions Network (MFIN) was established in the year 2009 as a Self-Regulatory Organization (SRO) for Non-Banking Financial Companies – Microfinance Institutions (NBFC-MFIs) in India. It aims to promote responsible lending, protect client interests, and support the financial inclusion agenda of the country. MFIN plays a key role in maintaining transparency, ethical practices, and data collection in the microfinance sector.

Information Booster:
• MFIN is recognized by the Reserve Bank of India (RBI) as an SRO for NBFC-MFIs.
• Its members include leading microfinance institutions that comply with RBI regulations.
• MFIN advocates client protection, credit discipline, and fair practices.
• It maintains a credit bureau for borrowers to prevent over-indebtedness.
• The headquarters of MFIN is located in Gurugram, Haryana.
• It also engages in policy advocacy and capacity building for member institutions.