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“NABFINS is an initiative of NABARD born out of serious concerns about the practices of NBFC MFIs in the mid-2000. Entrusted with the responsibility of promoting microfinance sector besides scaling up SHG-Bank Linkage NABARD thought it fit to form a Micro Finance institution on a pilot basis with the objective of developing it as a model NBFC in the country which will facilitate setting up of bench marks and standards for the MFI sector. In particular, NABFINS objective was to ensure that the various maladies found in the NBFC MFI sector such as lack of transparency in accounting and disclosure, high transaction cost, lack of diversification in products, increased rates of interest, coercive collection practices etc. are sought to be eliminated by establishing a fair and transparent Micro Finance Institution.”

Guiding Principles of NABFINS:

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