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Arohan is pleased to announce that Mr. Manoj Kumar Nambiar, Managing Director, has been elected unopposed as the Chairperson to the Governing Board of the Microfinance Institutions Network (MFIN), the RBI licensed, microfinance industry Self-Regulatory Organisation on June 28, 2019. He will serve as the Chairperson to the 12-member governing Board for the next one year. He has been on the board earlier from 2013 to 2016, including serving as the President of the board in 2015/16.
Reacting to the unanimously won election results, Mr. Manoj Kumar Nambiar said “I am humbled by this confidence reposed in me by the members & the governing board of MFIN. The enormous goodwill of the Aavishkaar group created over the years by investing, advising & lending to the sector even in difficult times and the unique lending model at Arohan have all helped me get this unstinted support. I will do my very best to contribute to the sector in this position with the support of the esteemed board and the MFIN Secretariat.”
Microfinance Institutions Network (MFIN) is the industry association for the microfinance sector in India. It was the first SRO licensed by the RBI in the financial services space in India. Its primary member organisations constitute 56 leading microfinance institutions, over 25 associates which include the other players like SFBs, Banks etc. in the country. MFIN works closely with regulator RBI, DFS GoI and other key stakeholders, and plays an active part in the larger financial inclusion dialogue through the medium of microfinance