Gurgaon-based Microfinance Institutions Network (MFIN) has appointed Samit Ghosh, founder and CEO of Ujjivan Financial Services, as its president and Chandra Shekhar Ghosh (CS Ghosh), founder and CEO of Bandhan Financial Services, as vice president.

The microfinance firm has also appointed Suresh Krishna (Grameen Koota), Govind Singh (Utkarsh Microfinance), Kishore Puli (Trident Microfinance), Manoj Nambiar (Arohan Financial Services), VS Radhakrishnan (Janalakshmi), K Paul Thomas (ESAF Microfinance) and Sameer Nanavati (Disha Microfinance) as directors.

An alumnus of Jadavpur University and The Wharton School of the University of Pennsylvania, Samit Ghosh has been a member of the international banking community for over 30 years. His last commercial assignment was as chief executive of Bank Muscat. At MFIN, he will be responsible to achieve financial inclusion of the rural and urban poor in India.

CS Ghosh, who is also on the governing boards of Sa-Dhan and READ India, has served on the National Bank of Agricultural and Rural Development (NABARD)’s committee for state-level review and coordination of credit delivery innovations.

A new board of directors was formed after the elections in the fourth AGM held recently.

Alok Prasad, CEO, MFIN said, “The newly elected board brings together the varied and rich experience of members across India. I look forward to taking forward the financial inclusion agenda under the direction and guidance of the board."

Established in October 2009, MFIN currently has a large member base which includes 41 leading NBFC-MFIs whose combined lending constitutes over 85 per cent of the Indian microfinance sector (excluding SHGs). MFIN seeks to work closely with regulators and other key stakeholders to achieve larger financial inclusion goals, through microfinance.

(Edited by Joby Puthuparampil Johnson)

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