No. All MFIs aren’t alike. They operate in a number of forms and shapes, at least in India.
The different types of MFIs in India are:
- Joint Liability Group or JLG
- Self Help Group or SHG
- The Grameen Bank Model
- Rural cooperatives
Although these MFI’s vary in their forms and structures, but they all service the financial needs of the marginalised population in the society.