Madura Micro Finance Ltd

Connecting markets and catalyzing business for inclusive socioeconomic development

India

The microfinance institution (MFI) Madura Microfinance Limited, founded in 2005, is based in Tamil Nadu and provides financial and non-financial services in 29 districts in the state of Tamil Nadu, in Karnataka and Maharashtra.

Madura places great emphasis on customer protection via a number of initiatives and non-financial services. This includes careful customer screening via a credit bureau and assessing families' repayment capacity. Interest rates are transparent without any hidden costs. Its mainly female field staff (mostly former borrowers) organize community meetings to support the loan groups with regard to lending and other issues, such as environmental protection and health.

Madura Micro Finance Limited will use Oikocredit's investment to deliver credit and credit plus services to its members. In addition, Madura will seek to promote entrepreneurship among its members by offering business training and awareness programmes.

Madura Micro Finance Limited has been an Oikocredit partner since 2014.