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Indian Hotel Industry:April 2017: Monthly Updates        Supreme Court’s order disallowing tariff relief for APL and CGPL is a negative development; however tariff relief likely for projects affected by shortfall in domestic coal        Indian Mining And Construction Equipment Industry: April 2017: Monthly Updates        FII inflows into Indian debt market in FY2018 expected to be limited to US$5-10 billion, led by G-sec, corporate debt        FII inflows into Indian debt market in FY2018 expected to be limited to US$5-10 billion, led by G-sec, corporate debt        Indian Sugar Sector: April 2017: Monthly Update        Wind capacity addition in near term to depend upon firm plans for bidding & PPA signing by utilities; solar capacity addition to remain strong (7-7.5 GW) backed by project pipeline        Indian Retail Non-Banking Finance Market: Retail NBFCs expected to witness growth moderation and asset quality pressures in the near-medium term        All available volume-based indicators in the green in March 2017, in the most broad-based uptick since the note ban        Direct Port Delivery model faces hurdles in attracting more registrations as customers continue to prefer the CFS route       
 
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Supreme Court’s order disallowing tariff relief for APL and CGPL is a negative development; however tariff relief likely for projects affected by shortfall in domestic coal
Indian Mining And Construction Equipment Industry: April 2017: Monthly Updates
Indian Hotel Industry:April 2017: Monthly Updates
FII inflows into Indian debt market in FY2018 expected to be limited to US$5-10 billion, led by G-sec, corporate debt
More...
 
MICROFINANCE INSTITUTIONS

An ICRA MFI Grading is a symbolic indicator of ICRA's current opinion on the relative capability of the Microfinance Institution (MFI) concerned to manage its microfinance activities in a sustainable manner. An ICRA MFI Grading is not a comment on any specific debt servicing capability of the MFI.

The focus of ICRA's MFI Grading exercise is on evaluating the candidate institution's business and financial risks. ICRA forms an opinion on an MFI's business risk by analysing, among other factors, its operating environment, governance structure, management and systems, scalability (in relation to business plans), and asset quality. Financial risk is assessed through an evaluation of factors including the MFI's liquidity position, funding policies, capitalisation profile and profitability.

ICRA's MFI Grading Scale

M1

Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is the highest.

M2
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is high.

M3
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is moderate.

M4
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is below average.

M5
Indicates that in ICRA's current opinion, the Graded MFI's ability to manage its microfinance activities in a sustainable manner is weak.

Note: For the Grading categories M2, M3 and M4, the sign of + (plus) may be appended to the Grading symbols to indicate their relative position within the Grading categories concerned. Thus, the Gradings of M2+, M3+ and M4+ are one notch higher than M2, M3, and M4, respectively.

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