The business of Micro Finance Institutions (MFIs) industry has risen from Rs 17,264 crores in March12 to Rs. 3.93 lakh crore as of November24, M Nagaraju, Secretary, DFS, Ministry of Finance was apprised by the industry representatives during a meeting in New Delhi.As per the MFI stateholders, the industry has grown more than 2176 per cent over 12 years.