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Manoj Kumar Nambiar: Chairman of Microfinance Institutions Network (MFIN)

Manoj Kumar Nambiar: Chairman of Microfinance Institutions Network (MFIN)

The Managing Director of Arohan Financial Services, Manoj Kumar Nambiar has been appointed as the chairman of Microfinance Institutions Network (MFIN).

Other than this, Vineet Chattree of Svatantra Microfin will be the vice-chairman, the industry association and self-regulatory organisation (SRO) for the microfinance industry in India.

MFIN Chief Executive Officer Harsh Shrivastava also announced induction of Gyan Mohan and Jagadish Ramadugu in its governing board.

MFIN is an association for the microfinance sector in India and it comprises 56 NBFC-MFIs and 40 associates including banks, small finance banks and NBFCs.

The microfinance industry saw a 38 per cent growth in its gross loan portfolio at Rs 1.87 lakh crore in the financial year 2018-19.

According to a report launched by Microfinance Institutions Networks (MFIN), the total number of microfinance accounts stood at 9.33 crore as on March 31, 2019, registering a growth of 21.9 per cent over 2017-18.

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