MFIN will not impact relevance of Sa-Dhan in Indian microfinance: Suresh Gurumani

Microfinance Focus, March 10, 2010: Microfinance Institutions Network (MFIN), the body of 31-member NBFC microfinance institutions in India, will not hit the relevance of Sa-Dhan in Indian microfinance sector,  clarified Suresh Gurumani, a board member of MFIN, in a recent interview with Microfinance Focus.

He made it clear that the interests of NBFC-MFIs are different and MFIN would serve their purpose. “We are still members of Sa-Dhan,” he asserted.  Sa-Dhan is a lobby group of 234 members in the country and MFIN has been formed early this year by NBFC-MFIs.

Suresh Gurumani was unequivocal to defend the move saying, “We are responsible to our investors and to the regulator. We have to achieve credibility in the long-run to be in the sector.”  MFIN, through its Alpha Micro Finance Consultants Private Ltd., has taken up the task of information-sharing among its members to achieve credibility.

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