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Paul Thomas, MD & CEO of ESAF Small Finance Bank, has been elected as Chairperson of the board of Sa-Dhan, which is an association of microfinance and impact finance institutions.
Thomas so far was the co-chair of the Association. Sadaf Sayeed, CEO of Muthoot Microfin, and Mukul Jaiswal, MD, Cashphor Micro Credit as its Co-Chairs of Sa-Dhan, and V N Salimath, Chairman of IDF Financial Services, as Treasurer, the Association, which is registered under the Societies Act of 1860, said in a statement.
Sayeed has been re-elected for the second term on the board of Sa-Dhan at the Association’s Annual General Body meeting held on June 21st.
Jaiswal, Salimath, A Ramesh Kumar, Chairman & MD of Laraksha Impact Finance, Nagendra Mali, MD of Navachetna Microfinance, and Ganesh Chandra Modak, MD of Grameen Shakti were elected as new members to the Board, per the statement.
“The Society also approved a ₹30 crore budget for the current year, which is almost 75 per cent more than the current year’s income and expenditure. The AGM also brought some positive amendments to the Memorandum of Association ensuring proper representation of different groups of members in the society,” Jiji Mammen, CEO & ED, Sa-Dhan, said.
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