MFIN Ropes In Alok Prasad As CEO To Oversee Responsible Financial Inclusion Amongst MFIN Members
MFIN, the self regulatory organization of 37 NBFC MFIs, has appointed Alok Prasad, a veteran banker, as CEO. Alok brings with him over 30 years of banking and financial services experience. He also brings with him a unique blend of working across both the public and private sectors.
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MFIN, the self regulatory organization of 37 NBFC MFIs, has appointed Alok Prasad, a veteran banker, as CEO.
Alok brings with him over 30 years of banking and financial services experience. He also brings with him a unique blend of working across both the public and private sectors.
Alok is moving to this role from the existing position of Country Director, Citi Microfinance Group, India, where he was instrumental for Citi's exponential growth in the sector. He was also on the board of CitiFinancial and Citicorp Maruti Finance Ltd.
Alok started his career with the RBI in the elite senior staff officer cadre (Grade B direct recruit). He served with distinction in various central office departments of the RBI. Thereafter, as a member of the start-up team of the National Housing Bank, a statutory body wholly owned by RBI, he played a pivotal role in the formulation of policies for the development of the housing finance sector.
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About MFIN
MFIN is a self regulatory body, comprising of 37 NBFC MFIs that aims to work with regulators to promote microfinance to achieve larger financial inclusion. The SRO has defined a code of conduct that ensures responsible lending. For the very first time in the MFI sector, MFIN is enabling the process of credit information sharing through High Mark and CIBIL.
MFIN is supported by Omidyar Network, a philanthropic investment firm, and the International Finance Corporation (IFC), a member of the World Bank Group. Omidyar Network is funding the project to support MFIN in its above efforts. IFC is providing advisory services and technical consultancy to Alpha in its effort to get the credit bureau services being made available to the MFI sector.
The Board of MFIN consists of Vijay Mahajan (Chairman, Basix) as Chairman, along with Suresh Gurumani (CEO, SKS Microfinance), Chandrasekar Ghosh (CEO, Bandhan), Rekam Jayasurya (CEO, Asmitha), Shubhankar Sen Gupta (CEO, Arohan) , Ajay Verma (MD & CEO , Sahayata Microfinance), H P Singh (CMD, Satin Creditcare Network), Samit Ghosh (CEO, Ujjivan) and P.N.Vasudevan (MD, Equitas Microfinance) as Directors.