MFI stands for Microfinance Institution. MFI refers to organizations that provide financial services, such as loans, savings, and insurance, to low-income individuals and communities. These institutions aim to alleviate poverty and promote economic development by offering financial services to those who lack access to traditional banking services. MFI loans are typically small and targeted towards micro-entrepreneurs, small business owners, and individuals in need of financial support. Microfinance institutions often operate in developing countries and may offer other non-financial services like training and education to empower their clients. Examples of well-known MFIs include Grameen Bank in Bangladesh, BRAC in Bangladesh, and Accion International. MFI is an important tool for financial inclusion and has gained recognition for its impact on poverty reduction and women empowerment.

Asirvad Microfinance Interview Questions: What is MFI

Asked inAsirvad Microfinance,Assistant Branch Manager

What is MFI

AnswerBot

MFI stands for Microfinance Institution.

MFI refers to organizations that provide financial services, such as loans, savings, and insurance, to low-income individuals and communities.
These institutions...read more