35 Indian microfinance institutions shared complete pricing data to date: MFTransparency
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35 Indian microfinance institutions shared complete pricing data to date: MFTransparency, Microfinance Focus, July 28, 2010
35 microfinance institutions in India have participated so far in theTransparent Pricing Initiative by MFTransparency in India by submitting complete microloan product information and pricing data. Of the 35 completed data submissions, 17 institutions are members of the Microfinance Institution Network (MFIN), 10 are members of the ACCESS MicroFinance Alliance (AMFA) and 21 are members of Sa-dhan.
MFTransparency launched the Transparent Pricing Initiative in India in April 2010 with widespread support from a range of industry actors, including Citi Foundation, Michael & Susan Dell Foundation (MSDF), MFIN, and Standard Chartered Bank, sponsors of the Initiative. The Indian microfinance market as a whole has shown a strong commitment to developing an enabling environment for transparent pricing.
MFTransparency awards transparency certification to all MFIs who submit data and commit to educating their clients on pricing. This consists of both a certificate to be displayed in the MFI’s offices as well as a seal of transparency logo to be used on the MFI’s marketing materials and website.