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An Introspective Study on the Governance Practices of Major Microfinance Institutions (MFIs) in India

An Introspective Study on the Governance Practices of Major Microfinance Institutions (MFIs) in India

Amit Majumder, Ruma Bhattacharyya
Copyright: © 2018 |Pages: 21
ISBN13: 9781522552130|ISBN10: 1522552138|EISBN13: 9781522552147
DOI: 10.4018/978-1-5225-5213-0.ch015
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MLA

Majumder, Amit, and Ruma Bhattacharyya. "An Introspective Study on the Governance Practices of Major Microfinance Institutions (MFIs) in India." Microfinance and Its Impact on Entrepreneurial Development, Sustainability, and Inclusive Growth, edited by Ramesh Chandra Das, IGI Global, 2018, pp. 275-295. https://doi.org/10.4018/978-1-5225-5213-0.ch015

APA

Majumder, A. & Bhattacharyya, R. (2018). An Introspective Study on the Governance Practices of Major Microfinance Institutions (MFIs) in India. In R. Das (Ed.), Microfinance and Its Impact on Entrepreneurial Development, Sustainability, and Inclusive Growth (pp. 275-295). IGI Global. https://doi.org/10.4018/978-1-5225-5213-0.ch015

Chicago

Majumder, Amit, and Ruma Bhattacharyya. "An Introspective Study on the Governance Practices of Major Microfinance Institutions (MFIs) in India." In Microfinance and Its Impact on Entrepreneurial Development, Sustainability, and Inclusive Growth, edited by Ramesh Chandra Das, 275-295. Hershey, PA: IGI Global, 2018. https://doi.org/10.4018/978-1-5225-5213-0.ch015

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Abstract

In microfinance literature, the term governance first appeared in 1997 with respect to the relationship between the board of directors and the management of an MFI. A few studies have been made regarding the issues concerning governance and leadership of the MFIs operating in India. The objective of the chapter is to study the governance practices of the major MFIs in India. The study is based on top 50 MFIs as rated by CRISIL. For analyzing governance practices of these selected MFIs, the recommendations of nationally and internationally acclaimed codes/guidelines for good governance have been considered. The study reveals that overall governance practices of MFIs operating in India are not quite satisfactory. Although a few MFIs have appointed a few independent directors in their board, yet the majority of the boards of these MFIs are dominated by the promoter groups. Regarding formation of board committees a few MFIs had shown a commendable performance where the majority have been lagging behind.

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