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Abstract : This study analyses Human Capital (HC) management practices by identifying the various elements of HC and its relevance in the organisational learning process in the Indian Microfinance Institutions (MFIs) context. The researcher used multiple data methods, namely observation, interaction with staff and examination of organisational documents and semi-structured case study interviews. This paper explores the importance of organisational learning in Indian MFIs drawing on examples gathered from interviews mainly with some MFIs in Eastern India and presents the findings of research which emphasise the importance of HC in enhancing the learning abilities of Indian MFIs. Copyright © 2014 Inderscience Enterprises Ltd.