Company lists · Data refreshed September 2026

Top 25 Microfinance development banks based in India

Name: Microfinance development banks based in India
Creator: RevenueBase
License: https://creativecommons.org/licenses/by/4.0/

Compiled by the RevenueBase Data Team Data refreshed Sep 17, 2026 410 companies tracked

RevenueBase identified 410 microfinance development banks headquartered in India as of September 2026 and tracks 103,417 professional contacts across them, including 11,243 with verified work emails. Mumbai is the largest hub.

This list covers microfinance development banks headquartered in India, matched on what each company actually does as described in its own words. Ranked by team size, largest first. Every row shows the company's own description, its RevenueBase Smart Search rating, and when it was last checked. Data refreshed September 17, 2026.

Published by RevenueBase, a B2B data infrastructure company. This list was built with RevenueBase Smart Search, the natural-language company search RevenueBase customers use to build their own targeted lists and unlock verified emails and direct dials at the companies on them. How these lists are built and judged.

How to read this list HQ checked on every row RevenueBase Smart Search rating on every row Refreshed Sep 17, 2026 86% judged on-target in blind review

410Companies

103,417Contacts tracked

11,243Verified emails

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The 25 largest microfinance development banks based in India

Ranked by team size

Top 25 of 410 microfinance development banks based in India, ranked by team size, largest first. Data refreshed Sep 17, 2026. RevenueBase Smart Search rates how each company's information relates to microfinance development banks: strong evidence (its own description names it), partial (names part of it), indirect (matched on the rest of its profile rather than the description shown). Click a contact count to view that company's people.
#	Company	RevenueBase Smart Search	Headquarters	Employees	Contacts
1	Utkarsh Small Finance Bank	Indirect evidence	Varanasi, IndiaHQ checked Sep 17, 2026	10001+	9,279 contacts →
	Indirect evidence “Utkarsh Small Finance Bank Limited (USFBL), incorporated on April 30, 2016, is engaged in providing banking and financial services with a focus on the underserved and unserved…” Source: RevenueBase Database · checked Sep 17, 2026
2	Sammaan Capital Limited	Indirect evidence	Mumbai, IndiaHQ checked Sep 17, 2026	5,001-10,000	7,092 contacts →
	Indirect evidence “Sammaan Capital is committed to being the most preferred choice for financial services, built on reliability, transparency, and a deep culture of respect.” Source: RevenueBase Database · checked Sep 17, 2026
3	Spandana Sphoorty Financial Limited	Indirect evidence	Hyderabad, IndiaHQ checked Sep 17, 2026	10001+	3,727 contacts →
	Indirect evidence “Spandana Sphoorty Financial Limited (SSFL) has been operating as a Non-Banking Finance Company (NBFC) incorporated under the Companies Act, 1956 and licensed by the Reserve Bank…” Source: RevenueBase Database · checked Sep 17, 2026
4	Satin Creditcare Network Limited	Partial evidence	Gurgaon, IndiaHQ checked Sep 17, 2026	10001+	3,407 contacts →
	Partial evidence “Satin Creditcare Network Limited (SCNL or Satin) is a leading microfinance institution (MFI) in the country with a presence in 26 states & 4 union territories and over villages.” Source: RevenueBase Database · checked Sep 17, 2026
5	AYE Finance LTD	Indirect evidence	Gurgaon, IndiaHQ checked Sep 17, 2026	10001+	3,379 contacts →
	Indirect evidence “Headquartered in Gurgaon, Aye Finance is a new-age finance company providing business loans to small and micro enterprises across India.” Source: RevenueBase Database · checked Sep 17, 2026
6	Muthoot Microfin	Indirect evidence	Kochi, IndiaHQ checked Sep 17, 2026	10001+	3,274 contacts →
	Indirect evidence “Muthoot Microfin is a part of the Muthoot Pappachan Group (MPG).” Source: RevenueBase Database · checked Sep 17, 2026
7	Nabard	Indirect evidence	Mumbai, IndiaHQ checked Sep 17, 2026	10001+	2,829 contacts →
	Indirect evidence Source: RevenueBase Database · checked Sep 17, 2026
8	Suryoday Small Finance Bank LTD	Indirect evidence	Navi Mumbai, IndiaHQ checked Sep 17, 2026	5,001-10,000	2,766 contacts →
	Indirect evidence “Suryoday Small Finance Bank is a new age bank that was converted from a micro finance institution having served over a million customers since 2009.” Source: RevenueBase Database · checked Sep 17, 2026
9	Arohan Financial Services Limited	Indirect evidence	Kolkata, IndiaHQ checked Sep 17, 2026	5,001-10,000	2,256 contacts →
	Indirect evidence “Established in 2006 in Kolkata, Arohan Financial Services Limited, a part of The Aavishkaar Group, is among India’s largest NBFC MFIs.” Source: RevenueBase Database · checked Sep 17, 2026
10	Vistaar Financial Services PVT LTD	Indirect evidence	Bengaluru, IndiaHQ checked Sep 17, 2026	1,001-5,000	2,038 contacts →
	Indirect evidence “The idea of Vistaar dawned on the minds of two first-generation entrepreneurs, who truly believe in supporting and creating new economic opportunities through credit provisioning…” Source: RevenueBase Database · checked Sep 17, 2026
11	Svatantra Microfin Pvt. LTD	Indirect evidence	Mumbai, IndiaHQ checked Sep 17, 2026	5,001-10,000	2,000 contacts →
	Indirect evidence “Svatantra Microfin Private Limited (Svatantra), an NBFC-MFI, has impacted more than 30 million lives since inception in 2012.” Source: RevenueBase Database · checked Sep 17, 2026
12	Veritas Finance Limited	Indirect evidence	Chennai, IndiaHQ checked Sep 17, 2026	1,001-5,000	1,923 contacts →
	Indirect evidence “Veritas Finance Limited (formerly known as Veritas Finance Private Limited) is an organization started with the primary intention of reaching out to the customers who either have…” Source: RevenueBase Database · checked Sep 17, 2026
13	Belstar Microfinance Limited	Partial evidence	Chennai, IndiaHQ checked Sep 17, 2026	10001+	1,843 contacts →
	Partial evidence “Belstar Microfinance Limited, a subsidiary of Muthoot Finance, is a leading NBFC-MFI committed to digital financial inclusion and women’s economic empowerment.” Source: RevenueBase Database · checked Sep 17, 2026
14	Finova Capital	Indirect evidence	Jaipur, IndiaHQ checked Sep 17, 2026	1,001-5,000	1,549 contacts →
	Indirect evidence “Finova stands for financial innovation.” Source: RevenueBase Database · checked Sep 17, 2026
15	Fusion Finance LTD	Indirect evidence	Gurugram, IndiaHQ checked Sep 17, 2026	5,001-10,000	1,515 contacts →
	Indirect evidence “At Fusion, we believe that financial empowerment is the foundation of meaningful progress.” Source: RevenueBase Database · checked Sep 17, 2026
16	Chaitanya India FIN Credit PVT LTD	Indirect evidence	Bangalore, IndiaHQ checked Sep 17, 2026	5,001-10,000	1,406 contacts →
	Indirect evidence “Chaitanya India Fin Credit is a wholly owned subsidiary of @Svatantra Microfin Pvt.” Source: RevenueBase Database · checked Sep 17, 2026
17	Sidbi Small Industries Development Bank Of India	Partial evidence	Lucknow, IndiaHQ checked Sep 17, 2026	501-1,000	1,376 contacts →
	Partial evidence “Set up on April 2, 1990 under an Act of Indian Parliament as a principal financial institution for- Promotion - Financing and - Development of industries in the MSME sector and -…” Source: RevenueBase Database · checked Sep 17, 2026
18	Satya Microcapital Limited	Indirect evidence	New Delhi, IndiaHQ checked Sep 17, 2026	5,001-10,000	1,265 contacts →
	Indirect evidence “Founded in October 2016 and headquartered in New Delhi, SATYA MicroCapital Ltd.” Source: RevenueBase Database · checked Sep 17, 2026
19	Capital Small Finance Bank Limited	Indirect evidence	Jalandhar, IndiaHQ checked Sep 17, 2026	1,001-5,000	1,098 contacts →
	Indirect evidence “Capital Small Finance Bank, headquartered in Jalandhar, Punjab, began its journey in and, in April 2016, became India’s first Small Finance Bank.” Source: RevenueBase Database · checked Sep 17, 2026
20	Five-Star Business Finance Limited	Indirect evidence	Chennai, IndiaHQ checked Sep 17, 2026	1,001-5,000	1,079 contacts →
	Indirect evidence “Despite the numerous advancements that India has achieved over the last few decades and the significant strides that we as a country have made in the domain of financial services…” Source: RevenueBase Database · checked Sep 17, 2026
21	Midland Microfin LTD	Indirect evidence	Jalandhar, IndiaHQ checked Sep 17, 2026	1,001-5,000	1,071 contacts →
	Indirect evidence “With its headquarters nestled in Jalandhar, Punjab, MML embarked on a remarkable journey dedicated to the Financial & Social Empowerment of Women.” Source: RevenueBase Database · checked Sep 17, 2026
22	Samasta Microfinance Limited	Partial evidence	Bangalore, IndiaHQ checked Sep 17, 2026	5,001-10,000	1,009 contacts →
	Partial evidence “IIFL Samasta Finance Limited (Formerly Samasta Microfinance Limited), is a financial institution committed to working towards women’s economic empowerment.” Source: RevenueBase Database · checked Sep 17, 2026
23	Fusion Microfinance	Partial evidence	New Delhi, IndiaHQ checked Sep 17, 2026	201-500	917 contacts →
	Partial evidence “Fusion Microfinance is a registered NBFC – MFI which operates in a Joint Liability Group lending model of Grameen.” Source: RevenueBase Database · checked Sep 17, 2026
24	Dvara Kgfs	Indirect evidence	Tamilnadu, IndiaHQ checked Sep 17, 2026	1,001-5,000	805 contacts →
	Indirect evidence “Dvara Kshetriya Gramin Financial Services Private Limited (Dvara KGFS) is a leading non-banking financial company (NBFC) that operates in remote rural areas of India.” Source: RevenueBase Database · checked Sep 17, 2026
25	Moneyboxx Finance Limited	Indirect evidence	Mumbai, IndiaHQ checked Sep 17, 2026	1,001-5,000	780 contacts →
	Indirect evidence “We are a RBI registered NBFC providing small business loans to micro- micro entrepreneurs in Tier 3 and beyond cities in India.” Source: RevenueBase Database · checked Sep 17, 2026

RevenueBase Smart Search

RevenueBase Smart Search assesses information from a company’s LinkedIn profile, information supplied directly by the company, its website, and other publicly available sources. It uses that information to rate how closely the company relates to this list’s category: microfinance development banks. Every row carries its rating and the description the rating was read from, so each one can be checked rather than taken on trust.

Strong evidence: The company's own public description of its business names microfinance development banks.
Partial evidence: Its own public description names part of microfinance development banks, so it works in or next to the category without describing itself that way.
Indirect evidence: The description shown does not name microfinance development banks. The match rests on the rest of the company's public profile rather than the one sentence quoted here, so this is the rating to check first.

RevenueBase Smart Search is how these lists are built: RevenueBase's data engine and AI assemble the companies that match a category defined in a user's own words, so a list can be about what companies actually do rather than about whichever industry code they were filed under.

Showing 25 of 410 microfinance development banks based in India

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Microfinance development banks based in India at a glance

As of Sep 17, 2026

10.9%Verified-email coverage

252.2Average contacts per company

51-200Median size (employees)

8.0%Largest-city concentration · Mumbai

Sep 17, 2026Page data refreshed

Companies by employee count

1-10

11-50

51-200

201-500

501-1,000

1,001-5,000

5,001-10,000

10001+

Email recency for this list is measured worldwide rather than for India, so it is reported there. Company counts and contact totals on this page are exact for India, over 410 companies.

How this list was built

Company categories are rarely black and white. RevenueBase reads each company's own description of its business to decide whether it belongs among microfinance development banks, so some rows will be adjacent to the category rather than pure plays. The description and RevenueBase Smart Search rating on every row are there so you can check each match yourself.

Source: The RevenueBase company graph: 60 million companies and 398.9 million professional contacts resolved from primary sources, queried with RevenueBase Smart Search, the natural-language company search available to every RevenueBase user.
What qualifies: Companies headquartered in India whose own description of what they do matches “microfinance development banks”. Matching reads each company's description, not its industry code or its name.
RevenueBase Smart Search: RevenueBase Smart Search is how this list is assembled and how each row is rated. RevenueBase's data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to a category defined in a user's own words. Each row is rated strong evidence (its own description names microfinance development banks), partial evidence (it names part of the category) or indirect evidence (the description shown names none of it and the match rests on the rest of the company's profile). The description supporting each rating is quoted on the row.
What we exclude: Companies whose own description does not clearly place them among microfinance development banks, and records with no verified work email. Companies headquartered outside India are excluded even when they keep an office there.
Match quality: In blind human judging of this matching method, 86% of matched companies were on target. Expect roughly 1 in 7 rows to be adjacent to the category rather than a pure play. Every row shows the company's own description and its RevenueBase Smart Search rating so you can judge each match yourself. Read the full methodology: how the lists are built, how the judging worked, and what the figure means.
Ranking: Team size, largest first: companies are ordered by the number of professionals RevenueBase tracks at each one. Employee ranges shown are reported bands, for context.
Verification: Every listed company carries at least one verified work email, 11,243 across the full list. Contacts re-verify on a rolling cadence, and each contact's own verification date is shown inside RevenueBase.
Refresh: This page's figures were pulled from the company graph on September 17, 2026. Lists refresh periodically as the graph is re-checked.
Corrections: Wrong category, wrong headquarters, or a company that has closed? Use “Report an issue” on any row. Reports go to the RevenueBase Data Team and feed back into the company graph.

Microfinance development banks by metro

Microfinance development banks in Mumbai33

Frequently asked

What is RevenueBase Smart Search?

RevenueBase Smart Search is how RevenueBase decides which companies belong on this list and how strongly each one fits. Its data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to the category the list is about. Each row is rated strong evidence when the company's own description names microfinance development banks, partial evidence when it names part of the category, and indirect evidence when the description shown names none of it and the match rests on the rest of the company's profile.

How many microfinance development banks are there based in India?

RevenueBase identified 410 microfinance development banks headquartered in India as of September 2026, matched on each company's own description of what it does rather than its industry code.

What is the largest company on this list?

Utkarsh Small Finance Bank, headquartered in Varanasi, tops this list with the largest team on record.

Which city has the most microfinance development banks?

Mumbai leads with 33 headquartered companies, followed by New Delhi (23) and Chennai (20).

How do I get contact information for these companies?

A free RevenueBase account lets you run this exact search and work the top results, verified emails and direct dials included. Upgrading unlocks all 11,243 verified decision-maker contacts tracked across these 410 companies.

How current is this list?

The list refreshes periodically as the company graph is re-checked. This page's figures were pulled on September 17, 2026.

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About this data

RevenueBase is a B2B data infrastructure company. Its company graph covers 60 million companies and 398.9 million professional contacts, with emails verified on a rolling cadence rather than scraped once and left to decay. These company lists are generated directly from that graph with RevenueBase Smart Search, the same natural-language company search every RevenueBase user has: describe a market in plain words, get the companies that match, and add verified emails and direct dials for the people at them. It is the same data that powers RevenueBase's B2B data products, and a free account includes 500 credits to start. How these lists are built and judged.