After a gap of more than five years, CRISIL – India’s leading agency for microfinance ratings has released it’s updated list of the top microfinance companies in India titled “India’s 25 Leading MFI’s for the years 2014 – 2015.

The previous ranking of Microfinance Institutions was released in 2009 and was titled India’s Top 50 Microfinance Institutions.

CRISIL has been associated with the Indian Microfinance Sector for more than a decade and its ratings and reports about MFI’s and the sector are highly valued by microfinance practitioners, analysts, and the general public. As of June 2014, CRISIL has ratings or gradings outstanding on more than 60 Indian MFI’s which account for more than 70% of the loans outstanding in the Indian Microfinance Sector.

Since the last report was released, the microfinance sector in India has been turned upside down with many of the top MFI’s from the 2009 list missing from the 2014 list, these are mainly MFI’s based in the state of Andhra Pradesh who bore the brunt of the Indian Microfinance Crisis and no longer figure in the top 25.

The publication also carries an opinion piece by CRISIL on the near to medium-term outlook for the microfinance sector in India. The report also includes an overview of the top 25 companies in Indian MFI space along with CRISIL’s analysis of the key strengths and challenges faced by the different microfinance institutions in India.

The report ends with a list of top 25 emerging microfinance companies in India who still have a small asset base and portfolio compared to the top 25 but could scale up in the long run to join the league of big MFI’s.



Download the full report “India’s 25 leading MFI’s” at the link below:


As per the report, the top 25 Microfinance Companies in India are as follows.

  1. Annapurna Microfinance Pvt Ltd
  2. Arohan Financial Services Pvt Ltd
  3. Asirvad Microfinance Pvt Ltd
  4. Bandhan Financial Services Pvt Ltd
  5. BSS Microfinance Pvt Ltd
  6. Cashpor Micro Credit
  7. Disha Microfin Pvt Ltd
  8. Equitas Microfinance Pvt Ltd
  9. ESAF Microfinance and Investments Pvt Ltd
  10. Fusion Microfinance Pvt Ltd
  11. Grama Vidiyal Micro Finance Ltd
  12. Grameen Financial Services Pvt Ltd
  13. Janalakshmi Financial Services Pvt Ltd
  14. Madura Micro Finance Ltd
  15. RGVN (North East) Microfinance Limited
  16. Satin Creditcare Network Ltd
  17. Shree Kshetra Dharmasthala Rural Development Project
  18. SKS Microfinance Ltd
  19. S.M.I.L.E Microfinance Ltd
  20. Sonata Finance Pvt Ltd
  21. Suryoday Micro Finance Pvt Ltd
  22. SV Creditline Pvt Ltd
  23. Swadhaar FinServe Pvt Ltd
  24. Ujjivan Financial Services Pvt Ltd
  25. Utkarsh Micro Finance Pvt Ltd


Watch out for these MFI’s in the coming days as they go head-on with the big boys of India’s Microfinance Sector.

  1. Adhikar Microfinance Pvt Ltd
  2. ASA International India Pvt Ltd
  3. Belstar Investment & Finance Pvt Ltd
  4. Chaitanya India Fin Credit Pvt Ltd
  5. Future Financial Services Ltd
  6. Growing Opportunity Finance (India) Pvt Ltd
  7. Humana People to People India
  8. IDF Financial Services Pvt Ltd
  9. Indian Cooperative Network for Women Ltd
  10. M Power Micro Finance Pvt Ltd
  11. Mahasemam Trust
  12. Margdarshak Financial Services Ltd
  13. Pahal Financial Services Pvt Ltd
  14. Rashtriya Seva Samithi
  15. Sahara Utsarga Welfare Society
  16. Sahayog Microfinance Ltd
  17. Saija Finance Pvt Ltd
  18. Samhita Community Development Services
  19. Sanghamitra Rural Financial Services
  20. Sarala Women Welfare Society
  21. Shikhar Microfinance Pvt Ltd
  22. Uttrayan Financial Services Pvt Ltd
  23. Vedika Credit Capital Ltd
  24. Village Financial Services Pvt Ltd
  25. YVU Financial Services Pvt Ltd
Sushma is a dynamic and knowledgeable personal finance expert and entrepreneur with a rich background in business and finance, holding a bachelor's degree in the field. Her passion for financial empowerment and a drive to teach others how to navigate the world of online money-making, create passive income streams, and achieve financial freedom sets her apart. With a focus on user-friendly apps and engaging games, she guides readers through the most profitable and enjoyable digital earning opportunities.


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