The Centre for Micro Finance (CMF) is a non-profit, non-partisan research centre housed within the Institute for Financial Management and Research in Chennai. The mission of the Centre for Micro Finance is to improve the accessibility and quality of financial services for the poor through rigorous research, knowledge dissemination and evidence-based policy outreach.

CMF currently employs 38 full-time staff and around 160 surveyors and consultants working on 19 randomized evaluations and 25 additional research projects throughout India.

Background

Over the past few years, Indian microfinance has witnessed unprecedented growth. In addition, many microfinance institutions have begun to offer products such as health and life insurance and to experiment with new technology such as mobile phones, point of sale devices, and smart cards.

Yet critical gaps remain in our knowledge of how to deliver microfinance services most efficiently and how microfinance can best be used as a tool to fight poverty. The Centre for Micro Finance was established in 2005 to help fill these gaps.

To achieve these objectives the Centre works in partnership with various MFIs in India, banks, donors, investors, training institutions and several academic institutions in India and abroad, including Massachusetts Institute of Technology (MIT), Yale, Harvard, New York University (NYU) and Indian School of Business (ISB). CMF also works actively with Indian regulators, policymakers and other stakeholders to disseminate results from its work and help shape the policies and donor paradigms that frame the sector.

Research Areas

The Centre undertakes qualitative and quantitative research in four broad areas:

(1) impact evaluation of credit and savings products

(2) microfinance “plus” (how to effectively combine microfinance with other development interventions and non financial services)

(3) insurance and innovative products

(4) sector wide and policy issues, such as regulations or the impact of competition.

CMF also undertakes long-term research on broad development issues through longitudinal studies, including its flagship project, the Tamil Nadu Socioeconomic Mobility Survey. To date, the Centre for Micro Finance has conducted over sixty research projects in all corners of India. In addition to research that we design and in which we are actively involved, CMF also occasionally serves as a Research Knowledge Partner for individuals and entities who leverage the expertise of our field infrastructure to conduct their own studies.

Publications and Outreach

Most of our research projects entail the collection of primary data via survey instruments. Once CMF data sets are cleaned and analyzed they are made publicly available online and can be accessible via the Resources page. Resultant publications from CMF studies take the form of academic working papers, more concise policy memos or newsletter articles. Our studies are also leveraged to design well-attended Courses and Workshops as well to engage with practitioners and policymakers during our Conferences and Seminars. CMF's work has been featured in The Economist, New York Times, Le Monde and many other globally renowned publications. You can also stay up to date on CMF via iTunes, Twitter and Facebook. You may also sign up for our electronic updates here.

Check out our Brochure and the short video below.