NABARD Support to Micro Finance Instituions (MFIs) from MFDEF
Grant Assistance for Rating of MFIs
Eligible MFIs : MFIs with the minimum loan outstanding of Rs. 50.00 lakh and maximum loan outstanding of Rs.10.00 crore would be eligible for support under the scheme. The rating should be done by the Credit Rating Agency approved by NABARD. At present M-CRIL, CARE, ICRA,CRISIL and Planet Finance.
Eligible Institutions: Commercial Banks, Regional Rural Banks and Co-operative Banks
Eligible Amount:
For Banks: 100% reimbursement of Professional fee charged by the Credit Rating Agency subject to maximum of Rs. 3 lakh by way of grant only for first rating of MFI.
For MFIs: MFIs availing Capital Support and/or Revolving Fund Assistance from NABARD are also eligible for re-imbursement of 50% of the cost of professional fee charged by Credit Rating Agency for second rating subject to a maximum of Rs.1.50 lakh (i.e 50% of Rs.3 lakh). This will be in addition to the re-imbursement of professional fee for first rating of the MFI.
Banks/MFIs may approach Regional Office of NABARD in their area of operation for claim of assistance and any other information
(for further details please visit to our nearest office)
