Microfinance Focus, August 13, 2011: Pramod Bhasin, Ex President and CEO of Genpact has resigned as Independent Director from the Board of SKS Microfinance on Friday.

In a filing at Bombay Stock Exchange (BSE), SKS said that Promod Bhasin tendered his resignation as Director from the Board of Directors of the Company with immediate effect.

Furthermore, SKS has informed BSE that Genesis Asset Managers LLP has sold its 0.28 percent stake, bringing down its holdings from 5.12 percent to 4.85 percent in SKS.

Genesis is a UK based specialist manager of emerging markets equities for global institutions. It now holds 3.5 million shares in SKS Microfinance.

Stocks of SKS were down by 4.15 percent on Friday and closed at Rs. 333.