Centre for Microfinance (CmF)
Centre for microfinance (CmF) is an autonomous organization registered under the Rajasthan Societies Act, 1958. It came into existence in 2005 in response to the need for an agency to guide the growth of microfinance and particularly, community-based microfinance in Rajasthan. CmF employs high quality professionals to provide a wide range of technical and other support services to mF players. Given its mandate the centre places value on networking and collaborations with stakeholders. CmF undertakes direct action only in gaps where players neither exist nor can be catalysed.
Prof. V.S. Vyas, an eminent economist, conducted a feasibility study in 2005 and suggested the setting up of an agency to deepen, widen and upscale the sector in Rajasthan. The Sir Ratan Tata Trust (SRTT) supported the idea for such an agency acting as a ‘knowledge and support centre’ for micro finance sector in Rajasthan. A steering committee under the chairmanship of N.S. Sisodia with representatives from the state government, banks, voluntary organizations and eminent citizens, was formed to formulate the role, strategy and action plan of CmF.
As nodal agency of the Sakh Se Vikas (SSV) programme supported by SRTT, CmF has contributed significantly by providing technical support to SSV partner NGOs who have a combined outreach to more than 50,000 poor households in Rajasthan.