New Delhi, Jun 20 (PTI) ESAF Small Finance Bank MD and CEO K Paul Thomas has been elected as chairman of Sa-Dhan, an RBI recognized self-regulatory organisation (SRO) and an association of microfinance and impact finance institutions.
The decision was taken at the annual general meeting which saw participation of about 100 members, Sa-Dhan said in a statement on Friday.
Consequent to the election of the new members, Sa-Dhan Board reconstituted with Paul Thomas as the chairperson; Sadaf Sayeed, MD & CEO, Muthoot Microfin; and Mukul Jaiswal, MD Cashphor, as co-chairs; and Vivekananda Salimath, Chair IDF, as Treasurer, it said.
The board after its constitutions decided on encouraging innovation and newer product in microfinance space with a view to see the present crisis is addressed with long term solutions, Sa-Dhan executive director and CEO Jiji Mammen said.
"As a self-regulatory organisation, Sa-Dhan will usher in an era of innovation in financial inclusion through micro-financing. The goal of Sa-Dhan is to develop, promote and support eco-systems of impact financing institutions, which enable inclusive growth, equity, gender and sustainable development in the society. The board of Sa-Dhan will work to attain its objectives," Thomas said.
The meeting approved the financial statements of Sa-Dhan for financial year 2024-25 and approved the budget for 2025-26 fiscal.