The Microfinance Institutions Network (MFIN) announced its new team at its 10th Annual General Meeting in New Delhi on June 28, according to a statement:
- Manoj Kumar Nambiar, managing director of Arohan Financial Services has been appointed chairperson. He will replace Udaya Kumar Hebbar, President MD & CEO of CreditAccess Grameen.
- Vineet Chattree, director of Svatantra Microfin has been selected as the vice chairperson, taking over from Dibyajyoti Pattanaik, director of Annapurna Finance.
Nambiar said one of his key priorities as chairperson of MFIN would be to bring all active microfinance institutions under the Code of Responsible Lending’s ambit as it will help in safeguarding women customers and the credibility of his organisation. Chattree meanwhile said that he would try and make the MFIN more inclusive and hold client protection and governance to the utmost regard.
MFIN is an industry association comprising 56 NBFC-MFIs (Non Banking Financial Company-Micro Finance Institutions) and 40 associates including Banks, SFBs (Small Finance Banks ) and NBFCs. It is also the Self-Regulatory Organization (SRO) for the regulated NBFC-MFI.