TABLE OF CONTENTS Acknowledgement; Abstract; List of tables; One Structural Evolution of Microfinance Institutions in India; Two Review of Legal Text and Framework for Various Institutional Forms; 2.1 Societies registration act, 1860; 2.2 Indian trusts act, 1882; 2.3 Not-for-profit Companies Registered under the Section 25 of; 2.4 Non Banking Finance Companies (NBFCs); 2.5 Nidhi Companies; 2.6 Banking Regulation Act as applicable to Cooperatives; 2.7 State Acts on Mutually Aided Cooperative Societies; 2.8 Producer Companies Act (proposed); 2.9 Conclusion: Institutional Issues with MFIs in India; Three Statutory Requirements; 3.1 Capitalisation, Capital Adequacy and Equity Capital; 3.2 Leverage And Institutional Debt; 3.3 External Borrowing; 3.4 Grants and Subsidised Lending; 3.5 Foreign Direct Investment (FDI); 3.6 Capital Markets; 3.7 Disclosures; Four Techno-Managerial Capacity Requirements; 4.1 Governance & Institutional Linkages; 4.2 Human Resource Management; 4.3 Management Information System (MIS); 4.4 Financial Management And Accounting Policies; 4.5 Internal Audit and Control; 4.6 The Importance Of Management Systems to MFI Operations; Five International Experience ofthe Effect of the Regulatory Framework; Annex 1 A Discussion on the Moneylender's Act; Annex 2 Exemptions available to companies registered under Section 25; References; List of Abbreviations.