Sitaram Rao (Dec 21, 1957-July 10, 2009)

A trained chartered accountant, he had held several senior advisory positions with finance, microfinance and international marketing companies including Equitas, the DCL Group (India),  Muscat Finance Company (Sultanate of Oman), Laila Group (India), and Paradigm InfoTech (USA).  He had also served as a visiting faculty member at Management Development Institute (Delhi),  Industrial Finance Corporation of India, Computer Maintenance Corporation, and the State Bank of India. He firmly believed that one of the effective ways to enhance the effectiveness of microfinance is to focus on value addition for microfinance borrowers ^[1] through health, education and other services. He was a strong force behind of SKS’s evolution. Dr. Vikram Akula, Chairman of SKS Microfinance, once said: “I am thankful to Sitaram Rao, my friend and guide, who has been with us throughout our journey. Without his support, SKS could not have established its strong presence in the sector.” SKS grew five times under his mentorship and expanded from Andhra Pradesh to Karnataka, Maharashtra, Orissa and Madhya Pradesh.

On hearing Sitaram Rao’s sudden demise, Grameen Koota MD Suresh K. Krishna, has expressed his deep grief and shock. “We have lost our mentor and our guide,” he said. Sitaram Rao was committed to the values and principles of microfinance and worked to promote the movement until  the last minute.

Malcolm Harper, renowned author and microfinance consultant, was taken by surprise when the news reached him. “Indeed, very sad news.  Certainly he is someone who was always full of ideas. A great loss,” he told MF Focus. Sitaram Rao will be remembered for his great contribution to microfinance,
being a guiding and motivational person for many young leaders of microfinance in India.

He received several awards like Microfinance Accelerator Award from Unitus, Excellence Award from Grameen Foundation ^[2], MIX GAAP Financial Transparency Award, ABN AMRO Planet Finance Award for Process Planning, Stockholm Challenge finalist and CGAP Pro-poor Innovation award. The community of Microfinance sector ^[3] was grief-stricken on hearing the news of his demise, as it lost a devoted and longstanding campaigner for microfinance movement in India, a great man deeply committed and compassionate to the poor.

He was also involved in Microfinance Focus, a monthly magazine, and served as member of its advisory board. In his visit to the magazine office in Bangalore exactly a week before his unfortunate death, he reviewed the magazine’s new venture in providing news and other information online and making  the website more vibrant and dynamic.

He was also a board member and treasurer of SADHAN, apex institution for MFIs in India, and chaired  its ethics committee. Sitaram Rao was associated with Access business development services as director,  CARE India, Unitus (India), Centre for British Teachers (India), Grameen Foundation, Washington, US, Microsave India,  Indian Institute of Management, Bangalore, International Labour Organisation, AP Rural Livelihood Programme,  MIX-IFAD, DFID, Ankuram Sanghamam Poram Co-op Society, Roshan Vikas Co-op Society.

Vikash Kumar, editor-in-chief of Microfinance Focus, a close disciple of Sitaram Rao, expressed his deep sorrow.  “His demise is an irreplaceable loss for us and our condolences go to his aged parents and his ailing brother,  about whom Sitaram Rao was worried till the last moment,” recollected Vikash Kumar. His brother suffered brain haemorrhage three months ago and is recovering slowly. “Sitaram Rao will always be remembered for his great contribution to microfinance, being a guiding and motivational person for many young leaders of microfinance in India,” he added.
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If you wish to express your sympathy to the family of Sitaram Rao and the community of microfinance sector in India, you can pass your condolence note to us at news@microfinancefocus.com with your full name,  email id, organization and address.

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Memories

Sitaram Rao ,in Sa-Dhan Natioanl Conference 2009

Sitaram in Microfinance Focus Board meeting

Sitaram with Suresh (Grameen Koota) and Graham (Micro Save)

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