Key Interventions

Financial Inclusion and Economic Empowerment has been the core mandate of the MIFS Division. As part of this mandate, MIFS has two key interventions namely:
Access to Credit Services: MIFS believes in economic empowerment of the marginalized and vulnerable community through access to credit. These communities have no or limited access to formal credit facilities such as banks, FIs and are often exploited by money lenders or have to avail credit from those informal sources at such terms and conditions which is not conducive for them. In order to address these challenges, MIFS has been providing credit services to these marginalized groups in a very conducive environment with terms & conditions which are mutually acceptable, in a participatory manner, through its village based Economic Development Centers. Along with credit, a lot of focus of MIFS has been to educate beneficiaries on utilization of loan for productive purposes, maintain credit discipline and avail credit as per their absorption capacity.
Credit linked insurance facility: With its prior experience within credit operation, MIFS realized that there is a need for providing financial security/risk mitigation services to the marginalized and vulnerable households and community, apart from credit. Since most of the marginalized and poor households, live and work in extreme conditions with poor levels of hygiene and nutrition, the productive life is limited. In case of death of the earning member, the entire household faces the risk of impoverishment as the availed credit becomes a liability. To address this, MIFS has been providing an additional facility of insuring the credit loans against the risk of death of borrower or guarantor to provide a security net to the family.