awards_and_recognitions

Awards and Recognition

CRISIL has assigned “P1+” (Highest safety) rating to our Rs.7.5 billion Short-Term Debt Programme. BFIL becomes the first and only MFI to have P1+ rating from CRISIL.

CRSIL has assigned MFI grading of ‘mfR1’ to the Company on July 2, 2010 indicating the ability of a microfinance institution to conduct its operations in a scalable and sustainable manner. The grading is assigned on an eight point scale, with ‘mfR1’ being the highest grading and ‘mfR8’, the lowest.

BFIL was rated first among top 50 MFIs in India by CRISIL in October 2009.

BFIL was awarded the Silver Certificate in October 2009 by CGAP with Michael & Susan Dell Foundation, the Ford Foundation, and the Social Performance Task Force (SPTF), powered by Microfinance Information Exchange (MIX) for implementing standards in microfinance operations providing services to the poor.

BFIL was ranked the No. 1 MFI in the Country and No. 2 in the World in the annual composite rankings conducted by MIX Market based on the parameters of outreach, efficiency and transparency in 2009.

BFIL received Certificate from IQ Net in May 2008 for the quality management system is in compliance with the standard ISO 9001:2000 in relation to the conducting of internal audits as per the policies and applicable standards.

BFIL bagged Social and Corporate Governance Award issued by BSE and Nasscom Foundation for Best Corporate Social Responsibility Practice in December 2007.

Bharat Financial Inclusion Limited was awarded the Excellence in Information Integrity award in 2007 for demonstrating information integrity and streamlining the processes, increasing operational efficiency and serving the customer better.

The Schwab Foundation presented the 2006 India Social Entrepreneur of the Year Award to Bharat Financial Inclusion. Bharat Financial Inclusion Limited has been hailed as the “Starbucks of Microfinance” for adopting global business practices in microfinance leading to over US$ 71.6 million in loans benefiting 1.5 million Indians in 2005 and 2006.

Bharat Financial Inclusion Limited was honored by PlaNet Finance and ABN AMRO with a Microfinance Process Excellence Award (MPEA) for Continued Excellence. MPEA is an initiative that encourages business excellence among the microfinance industry in India in 2006.

Bharat Financial Inclusion Limited also received the MPEA award in 2005 on the basis of the clarity of the organizational vision and mission, the openness of the management to adopt tested management practices and approaches, level of IT&C adoption and transparency.

Bharat Financial Inclusion Limited has won a Merit Award for financial transparency in February 2005 and January 2006 from The Consultative Group to Assist the Poor, a division of the World Bank. BFIL won this award based on its compliance with international disclosure guidelines, including industry-specific CGAP Disclosure Guidelines and the widely accepted International Financial Reporting Standards.

BFIL received the Excellence Award for its overall achievement in outreach to the poorest, financial performance and innovations that benefit both the organization and the industry by the Grameen Foundation USA Microfinance Practitioner Award for Excellence in 2005.

The Schwab Foundation presented the 2006 India Social Entrepreneur of the Year Award to Bharat Financial Inclusion Limited. Bharat Financial Inclusion Limited has been hailed as the “Starbucks of Microfinance” for adopting global business practices in microfinance leading to over US$ 71.6 million in loans benefiting 1.5 million Indians in 2005 and 2006.

Bharat Financial Inclusion Limited was honored by PlaNet Finance and ABN AMRO with a Microfinance Process Excellence Award (MPEA) for Continued Excellence. MPEA is an initiative that encourages business excellence among the microfinance industry in India in 2006.

Bharat Financial Inclusion Limited also received the MPEA award in 2005 on the basis of the clarity of the organizational vision and mission, the openness of the management to adopt tested management practices and approaches, level of IT&C adoption and transparency.

Bharat Financial Inclusion Limited has won a Merit Award for financial transparency in February 2005 and January 2006 from The Consultative Group to Assist the Poor, a division of the World Bank. BFIL won this award based on its compliance with international disclosure guidelines, including industry-specific CGAP Disclosure Guidelines and the widely accepted International Financial Reporting Standards.

BFIL received the Excellence Award for its overall achievement in outreach to the poorest, financial performance and innovations that benefit both the organization and the industry by the Grameen Foundation USA Microfinance Practitioner Award for Excellence in 2005.

December 2014

BFIL receives the Smart Campaign Client Protection Certification

The Smart Campaign Client Protection Certification certifies that Bharat Financial Inclusion Limited has been evaluated according to the standards of the Client Protection Certification Program and found to take adequate care to implement Client Protection Principles as promoted by the
Smart Campaign, a global effort to keep clients as the driving force of the industry.
The Smart Campaign has been co-founded by CGAP at The World Bank.

BFIL wins ‘The Microfinance Organization of the Year’ award

The award is in recognition of Bharat Financial Inclusion Limited’s efficient and responsible microfinance services at scale and its impressive efforts of reaching out to the low-income households in multiple regions across India, including several underserved regions.

The award was received at the Annual Microfinance India Awards 2014, instituted by ACCESS Development Services, an organization set up with support from DFID (the United Kingdom Government as a legacy institution).

July 1, 2014

Bharat Financial Inclusion Limited was assigned a ‘A1+’ short-term debt rating

Instruments with such ratings are considered to have “a very strong degree of safety regarding timely payment of financial obligations”. Such instruments carry the lowest credit risk.

June 16, 2014

Bharat Financial Inclusion Limited’s credit rating for bank borrowings was upgraded by ‘Al+’ from ‘Al’ for short-term facilities and to ‘A+’ from ‘A’ for long-term facilities for an aggregate sum of Rs. 2,000 crore.

Short-term debt instruments with ‘Al+’ rating are considered to have “a very strong degree of safety regarding timely payment of financial obligations”. Such instruments carry the lowest credit risk. Further, long-term debt instruments with ‘A+’ rating are considered to have “an adequate degree of safety regarding timely servicing of financial obligations”. Such instruments carry a low credit risk.

February 14, 2014

Bharat Financial Inclusion Limited was assigned ‘MFI 1’ grading. ‘MFI 1’ is the highest grading on an eight-point scale.

September 2013

Bharat Financial Inclusion Limited was awarded the Seal of Transparency. The Seal is conferred upon microfinance providers who showcase transparency in their product pricing.

MF Transparency represents an industry movement toward transparent practices and responsibility. Based in the United States, the group has organized transparent pricing efforts in 28 countries in four continents.

September 16, 2013

Bharat Financial Inclusion Limited was assigned a ‘A’ (long-term) and ‘A1’ (short-term) rating.

Instruments with ‘A’ (long-term facilities) rating are considered to have an “adequate degree of safety regarding timely servicing of financial obligations”. Such instruments carry low credit risk.

Instruments with ‘A1’ (short-term facilities) rating are considered to have a “very strong degree of safety regarding timely servicing of financial obligations”. Such instruments carry the lowest credit risk.

December 2012

Bharat Financial Inclusion Limited was assigned ‘MFI 1’ grading. ‘MFI 1’ is the highest grading on an eight-point scale. This grading was upgraded from preceding year’s ‘MFI 2+’.

November 17, 2011

Bharat Financial Inclusion Limited was assigned ‘MFI 2+’ grading. ‘MFI 2+’ is the second highest grading on an eight-point scale.