MFIN re-elects Rakesh Dubey as its president

KOLKATA: Microfinance Institutions Network ( MFIN) has re-elected Rakesh Dubey, chief of SV Creditline Private Ltd, as its president for the second term.

The industry association and self-regulator for the NBFC-MFIs has also elected Devesh Sachdev, chief executive of Fusion Microfinance as vice president.

“The industry has witnessed many ups and downs in past nine months and current span is a juncture of far-reaching changes and difficulties. However, necessary decisions are to be aimed for the transformation of the Industry once again," Dubey was quoted as saying in a press statement issued by MFIN. "This is a crucial time to prepare ourselves for the future through bringing in innovation."

Prior to joining the SVCL, Dubey was involved in the formation of Sonata Finance and Cashpor Micro Credit.

Sachdev founded Fusion Microfinance in 2009. He had worked with companies such as Citigroup and BSA before his entrepreneurial journey.

"Our sector today is at a very critical juncture where not only are we best placed to pivot for growth and bring in more of the country’s under-served population to financial mainstream, we also have the opportunity to leverage the enabling environment to evolve and improve levels of client understanding, collaborate on new areas like digital payments etc to bring in efficiency, mitigate risks and optimise value for the customer,” Sachdev said.