MFI Grading

Microfinance involves providing credit, thrift, and other financial services and products to the economically underprivileged, to enable them to raise their income levels and living standards. Microfinance Institutions (MFIs) act as facilitators towards this end.

In line with its objective of helping markets function better, CRISIL pioneered the concept of MFI grading and assessment services in India. We have, so far, assessed over 270 MFIs.


CRISIL MFI Grading is

  • CRISIL's opinion on sustainability and scalability
    of the rated MFI
  • One-time assessment based on the information
    provided by the MFI
  • Based on an eight-point scale - mfR1 (highest)
    to mfR8 (lowest)


CRISIL MFI Grading is not

  • A credit rating does not indicate the credit worthiness
    of the graded MFI
  • A proxy for timely payment of interest and principal by,
    or to, the rated MFI
  • A recommendation to purchase, sell, or hold any debt
    instrument issued by the rated MFI
  • Monitored on an ongoing basis
  • For use by the rated MFI to mobilise deposits/savings/
    thrift/insurance funds/other funds (including equity) from
    its members/clients or the general public


Get your business graded

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  • Interested in our SME offerings? Please call or email us at:
    +1800 103 3453

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