Microfinance Executives are the face of a Microfinance Institution (MFI) or Microfinance Company. They are responsible for identifying potential areas to develop business, building awareness through financial literacy, sourcing potential or prospective customers. They have to learn about products which can aid in business development like selling microloans, micro-savings, micro-insurance and micro-pensions and predominantly service the financially excluded market. They also assist in application and loan disbursement process, and collects fees and instalments.
Personal Competencies
• You like to work with numbers
• You are organised in your work
• You are good at keeping records
• You are good with computers
Entry Pathway
Minimum Qualification
• After completion of class 10 and minimum age required is 18 years old for enrolling in National Skill Qualification Framework (NSQF)* Level 2 course for Microfinance Executive
OR
• After completion of your Bachelor's degree you may enrol in National Skill Qualification Framework (NSQF)* Level 2 course for Microfinance Executive
*NSQF is a nationally integrated education and competency-based framework that enables persons to acquire desired competency levels in a chosen field. NSQF includes vocational education, vocational training, general education and technical education which prepares an individual for the job market with
competent skills. An individual may return at any time to upgrade skills after gaining experience
Where will you study?
The course is offered by the different Departments.
This list of institutes is indicative only.
INSTITUTES
Details of accredited training centres can be seen by clicking the links below:
1. Indian School of Microfinance For Women, Ahmedabad
2. University of Delhi, New Delhi
3. University of Mumbai, Mumbai
4. Indian Institute of Banking & Finance, Mumbai
Fees
A majority of government schemes are free
Scholarships & Loans
SCHOLARSHIPS
• Visit the National Scholarship Portal for details on ITI registered with NSP: scholarships.gov.in/fresh/onlinelnstituteSearchlndex
• Visit buddy4study.com for details on scholarships for ITI/Vocational Training: buddy4study.com/article/iti-scholarships
(Availability of these scholarships can vary from time to time)
Where will you work?
Places of Work: Banks, microfinance institutions or companies, non-banking financial companies.
Work Environment: This works includes travel. You will have to work for 8/9 hours for 6 days a week. During busy time there will be overtime at work. Generally the work will involve targets.
Opportunities for work exist for differently abled in this field
Ashok Chaubey has more than a decade of experience in micro finance. He joined Cashpor, an MFI in UP, in 2004. In 2009 he joined UTKARSH as an auditor and later he was promoted as Divisional Manager and was given charge to open new branches and expand business in UP & Bihar .ln 2015 he started his own organization SAHAJ micro finance as section 25 company. He is founder director of SAHAJ foundation which is doing micro finance in Bihar.*
MICROFINANCE EXECUTIVE
NCS Code: NA | BF024• You like to work with numbers
• You are organised in your work
• You are good at keeping records
• You are good with computers
Minimum Qualification
• After completion of class 10 and minimum age required is 18 years old for enrolling in National Skill Qualification Framework (NSQF)* Level 2 course for Microfinance Executive
OR
• After completion of your Bachelor's degree you may enrol in National Skill Qualification Framework (NSQF)* Level 2 course for Microfinance Executive
*NSQF is a nationally integrated education and competency-based framework that enables persons to acquire desired competency levels in a chosen field. NSQF includes vocational education, vocational training, general education and technical education which prepares an individual for the job market with
competent skills. An individual may return at any time to upgrade skills after gaining experience
The course is offered by the different Departments.
This list of institutes is indicative only.
INSTITUTES
Details of accredited training centres can be seen by clicking the links below:
1. Indian School of Microfinance For Women, Ahmedabad
2. University of Delhi, New Delhi
3. University of Mumbai, Mumbai
4. Indian Institute of Banking & Finance, Mumbai
A majority of government schemes are free
SCHOLARSHIPS
• Visit the National Scholarship Portal for details on ITI registered with NSP: scholarships.gov.in/fresh/onlinelnstituteSearchlndex
• Visit buddy4study.com for details on scholarships for ITI/Vocational Training: buddy4study.com/article/iti-scholarships
(Availability of these scholarships can vary from time to time)
Places of Work: Banks, microfinance institutions or companies, non-banking financial companies.
Work Environment: This works includes travel. You will have to work for 8/9 hours for 6 days a week. During busy time there will be overtime at work. Generally the work will involve targets.
Opportunities for work exist for differently abled in this field
Officer → Asst. Manager → Manager → Senior Manager
The approx. salary of a Microfinance executive ranges between INR 16,000 - 52,000* per month.
Source: https://www.payscale.com/research/lN/Employer=Microfinance_Opportunities/SaIary?IoggedIn
Experts from the field
Ashok Chaubey has more than a decade of experience in micro finance. He joined Cashpor, an MFI in UP, in 2004. In 2009 he joined UTKARSH as an auditor and later he was promoted as Divisional Manager and was given charge to open new branches and expand business in UP & Bihar .ln 2015 he started his own organization SAHAJ micro finance as section 25 company. He is founder director of SAHAJ foundation which is doing micro finance in Bihar.*
Source: https://www.samaveshmfi.com/member.html
*The above information is for training purposes only and will not be used for any commercial gains
microfinance, micro enterprise, shg