Manoj Kumar Nambiar, managing director of Arohan Financial Services has been appointed chairperson. Vineet Chattree, director of Svatantra Microfin has been selected as the vice chairperson.
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-M