A Micro Finance Private Limited Company (NBFC-MFI) provides small loans up to Rs.3,00,000 per borrower to low-income households. Requires RBI registration and minimum Net Owned Fund (NOF) of Rs.5 crore.
RBI Eligibility Requirements
| Criteria | Requirement |
|---|---|
| Minimum Net Owned Fund | Rs.5 Crore (Rs.2 Crore NE states) |
| Qualifying Asset Ratio | Minimum 85% |
| Maximum Loan Size | Rs.3,00,000 per borrower |
| Company Type | Must be Private Limited Company |