Mumbai , June 22 : Recordent, a credit risk and collections platform, has rolled out a dedicated credit registry for Section 8 Microfinance Institutions to improve credit visibility and strengthen risk assessment.
The MFI Credit Registry will enable participating institutions to share and access borrower loan data through a common platform, helping lenders improve underwriting, monitor borrower indebtedness and make more informed credit decisions.
The initiative comes amid efforts to strengthen credit information sharing and risk assessment across the microfinance ecosystem.
According to the Microfinance Insights Report by Equifax – a leading global data and credit analytics company – the sector’s portfolio outstanding stood at Rs 3.2 lakh crore across 10.5 crore active loans.
Designed exclusively for the Not-for-Profit MFIs, the registry functions as a shared credit information infrastructure, allowing participating institutions to upload and access borrower data while combining it with bureau insights through a unified credit report.
The platform will address a key challenge around credit visibility for Section 8 MFIs by enabling lenders to gain a comprehensive view of borrower exposure and repayment behaviour. It will provide a more accurate borrower profile by consolidating repayment histories across participating MFIs through shared access to credit history data.
The registry has been developed using the architecture of Recordent‘s existing B2B credit registry platform in discussion with Sa-Dhan, the RBI-appointed self-regulatory body for MFI’s. It is intended to support responsible lending and improved risk management across the sector.
The initiative is being introduced to members of Sa-Dhan. Given the significant presence of Section 8 MFIs within the Sa-Dhan network, the registry is expected to benefit from broad institutional participation and industry-wide collaboration.
The registry is expected to strengthen financial inclusion by ensuring fair and transparent lending, improve risk management for MFIs and allied institutions. Recordent believes that the initiative can help create a more sustainable lending ecosystem that benefits both borrowers and lenders.
Commenting on the announcement, Winny Patro, CEO & Co-Founder, Recordent, said:
“The MFI Credit Registry is built in the interest of the sector to empower NPO MFIs with better data, reduce lending risk, and enable responsible financial inclusion. Its success depends on collective participation. The more institutions contribute, the stronger and more effective the ecosystem becomes.”
By fostering greater transparency and collaboration among participating institutions, the registry is expected to help reduce borrower over-indebtedness, improve portfolio quality, enable faster credit decisions and strengthen early-warning risk detection across the sector.
Recordent added that it is actively engaging with MFIs, industry bodies and ecosystem stakeholders to encourage participation in the registry and support the development of a more transparent, data-driven and responsible microfinance ecosystem in India.