Manoj Kumar Nambiar re-elected as MFIN chairperson

It also said that Devesh Sachdev has been appointed as vice-chairperson of the governing board. "The microfinance sector serves over 60 million end clients and impacts over 300 million lives today.

The Microfinance Institutions Network (MFIN), a self-regulatory organisation for microfinance industry, on Tuesday announced re-election of Manoj Kumar Nambiar as its chairperson for another year. It also said that Devesh Sachdev has been appointed as vice-chairperson of the governing board.

"The microfinance sector serves over 60 million end clients and impacts over 300 million lives today. I am honoured and humbled by the confidence placed in me by the members and look forward to their continued support as we steer the sector together in a challenging external environment," Nambiar said in a release. He is currently with the Aavishkaar Group as the managing director of Arohan Financial Services Ltd. He joined MFIN board in 2013 and was also its chairman in 2015.

Sachdev, co-founder and CEO of Fusion Microfinance Pvt Ltd, has taken over from Vineet Chattree, Director, Svatantra Microfin. The decision on both the appointments was taken at the 11th annual general meeting of MFIN, held on July 10, 2020, the release said.

MFIN is a premier industry association comprising of 55 NBFC-MFIs and 39 associates, including banks, small finance banks (SFBs) and NBFCs..

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