Microfinance

Microfinance India Awards 2011 Winners

Microfinance India Awards- 2011 were presented by ACCESS Development Services in association with HSBC at the 8th Annual Microfinance India Summit 2011.

The eminent jury panel of Microfinance India Awards 2011 selected the winners on the basis of their performance in growth, social performance, innovation (process, product and technology) and promotion of responsible finance. The awards were presented to the following recipients:

 Ujjivan Financial Services Pvt. Ltd., Microfinance Organization of the Year Award for large MFIs 

• Sanghamithra Rural Financial Services Pvt. Ltd., Microfinance Organization of the Year Award for small and medium MFIs 

• Center for Microfinance (IFMR), Contribution to the Sector by Enabling Institution 

• Prof. David Gibbons, Chairman, CASHPOR, Contribution to the Sector Award (Individual)

• Mr. Y.C. Nanda, Chairman, Agriculture Finance Corporation and Former Chairman NABARD, Jury’s Special Award for Lifetime Achievement

The distinguished Jury panel was chaired by Ms. Naina Lal Kidwai, Country Head India, Director HSBC, Asia Pacific and co-chaired by Mr. Brij Mohan, Chairman, ACCESS Development Services. The illustrious panel consisted of Vijayalakshmi Das, Managing Director, Ananya Finance for Inclusive Growth Pvt. Ltd.; Meera Sanyal, Chairperson and Country Executive, The Royal Bank of Scotland N.V.; and Dr. Arvind Mayaram, Additional Secretary & Financial Advisor, Ministry of Rural Development, Government of India.

Ms. Naina Lal Kidwai, Country Head Country Head India and Director, HSBC Asia Pacific, “The Microfinance India Awards, which is in its third year, aims to recognise the larger contribution of notable thought leaders, policy makers, promoters and institutions to the microfinance sector. As the sector goes through its most challenging time, the Awards reflect the changed ground realities and recognise those who have emerged as leaders, exhibiting balanced responsible growth, promoting transparency and pro-client lending practices, and above all, creating a sustainable impact on under-served communities.”

The winner for the Microfinance India Organization of the year 2011 for large organizations was Ujjivan Financial Services. Ujjivan was established in November 2005 and is one of the first MFI’s in India to be established with a unique decentralised management structure operating under a hub and spoke framework. Ujjivan provides financial services to the economically active urban poor, to help build a better life.

The second award for the Microfinance India Organization of the year for small and medium organization was presented to Sanghamithra Rural Financial Services (SRFS). SRFS promoted by MYRADA lends to SHGs ensuring that the SHG decide the amount of loan and the purpose for which it should be lend further to the members. Sanghamithra has grown at a steady pace with an average of 11-18% during last three years.

The third award, Microfinance India Contribution to the Sector 2011 was honoured toCentre for Microfinance (CMF). CMF is a non profit, non partisan research centre housed within the Institute for Financial Management and Research in Chennai. CMF undertakes qualitative and quantitative research in four broad areas: Financial inclusion, livelihoods, social objectives, and policy and regulation.

The Microfinance Individual of the Year award was given to Prof. David Gibbons, founding Chairman of CASHPOR Micro Credit, the largest poverty-focused, not-for-profit MFI in India providing financial services to over 450,000 below-the-poverty-line women in eastern Uttar Pradesh and Bihar in a financially sustainable manner.

Lastly, the Jury’s Special Award was presented to Mr. Y. C. Nanda, The Chairman of Microfinance India Advisory Group and Chairman of Agriculture Finance Corporation. Mr. Y. C. After an initial career with the State Bank of India and the Reserve Bank of India, Mr. Nanda joined NABARD when it was first formed in 1983. Mr. Y. C. Nanda is the former chairman of NABARD. He is also an alumnus of Delhi School of Economics. He has been involved with a number of microfinance institutions, rural development agencies, management institutes as Director/Trustee.

As the Microfinance sector grapples with new realities and the regulations are finalized, the Awards will honour institutions and individuals that have contributed to the growth story and worked tirelessly towards financial inclusion. The inspiration behind the Microfinance India Awards is to recognize the contribution of notable thought leaders, policy makers, promoters and institutions, which help translate the vision of reaching the poorest in a sustainable manner into reality. This is the third year for the Microfinanc India Awards.

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