National Policy on Financial Inclusion and Self Regulatory Organizations
(SROs) Essential for Structured Growth of the Microfinance Sector
MUMBAI, March 14, 2014
MUMBAI, March 14, 2014 /PRNewswire/ --
Sa-Dhan Successfully Hosts the 9th National Financial Inclusion Conference;
Lays out Roadmap for Financial Inclusion
Sa-Dhan, the association of community development finance institutions, today
organized the 9 ^th National Financial Inclusion Conference in Yashwantrao
Chavan Centre, Mumbai.
Under the theme "Partnership and Future Growth: Challenges ahead for the
Microfinance Sector", participants discussed the challenges faced by the
microfinance sector and the way forward. Deliberations during the sessions
brought out the need for:
*A national policy on financial inclusion as recommended by the
Parliamentary Standing committee on Finance
*Pursuing a new MFI bill in the 14 ^th Lok Sabha session
*Building a strong and inclusive credit bureau system encompassing the Self
Help Groups (SHGs)
*Enhancing regulatory compliance through SROs to foster growth in the
The conference was attended by eminent dignitaries such as Mr Mohan V
Tanksale, Chief Executive, Indian Banks Association (IBA), Mr Sushil Muhnot,
CMD, Bank of Maharashtra, Mr N S Vishwanathan, Principal CGM, Reserve Bank of
India (RBI), Mr Jagadananda, Chairperson, Sa-Dhan, Mr Samit Ghosh, Managing
Director, Ujjivan Financial Services Pvt Ltd, Ms Bindu Anantha, President,
IFMR Trust, Mr Mathew Titus, Executive Director of Sa-Dhan and others.
Mr Mohan V Tanksale, Chief Executive Officer, Indian Banks Association
complimented the microfinance sector for reaching 30 million villagers across
the country. He also emphasized on the need for building credibility of the
sector by focusing on transparency, accountability and adopting client
Mr N S Vishwanathan, Principal CGM, Reserve Bank of India said, "The
Microfinance sector is dealing with people from the lowest end of the economic
strata. Hence there is a need for regulation to come from within the sector".
He further added, "Self-Regulatory Organizations can play a big role in
building credibility for the MFI sector."
Mr Mathew Titus, Executive Director, Sa-Dhan said , "It has been promising to
have the conference in Mumbai as we have seen a positive response from the
bankers. Going forward, bankers will play a key role in building microfinance
policies, the regulatory framework and the industry eco system."
Sa-Dhan came into being on July 21, 1999 with a mission to build community
development finance in India. It helps its member and associate institutions
to better serve low-income households, particularly women, in both rural and
urban India, in their quest for establishing stable livelihoods and improving
quality of life.
Primary Media Contact: Aanchal Agarwal, firstname.lastname@example.org ,
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