RMDC has made its eligibility criteria softer than before for allowing a large number of MFIs to avail wholesale credit. Institutions willing to borrow should fulfill the following requirements. An organization should:
Have registered under an appropriate act and received a license for microfinance operation;
Have minimum of one year experience in operating microfinance activities;
Have savings balance at least 5% of the loan outstanding in the 1st year, 10% in the 2nd year, 15% in the 3rd year, and 20% in the 4th year and onward;
Have attained minimum 90% loan recovery rate;
Have committed and dynamic executive committee;
Have active and professional management;
Have appropriate management information system;
Have an appropriate business plan;
Have adopted modern accounting system;
Have appropriate policies and procedures for implementing credit program, and its monitoring and evaluation;
Have at least 50 active borrowers;
Have at least 25% female borrowers.
Have minimum Rs. 250,000 financial resources;
Have minimum net-worth of Rs. 100,000;
Have a trend towards self-sufficiency as per the last three years? financial position; and
