SKS Chairperson and Founder, Vikram Akula, recognized by Time Magazine as one of today's 100 most influential people 
       
   
   
       
 



 
 
 
April 7, 2006
SKS Microfinance Awarded Microfinance Process Excellence Award for Continued Excellence 2006
Award promotes superior management practices among microfinance institutions
Delhi, India – SKS Microfinance Pvt Ltd. was honored by PlaNet Finance and ABN AMRO with a Microfinance Process Excellence Award (MPEA) for Continued Excellence, a recognition of SKS’ second year as an MPEA recipient. MPEA is an initiative that encourages business excellence among the microfinance industry in India. The award ceremony, held in Delhi, hosted up-and-coming and established institutions, including Jyotirmayee Mahila Samiti of Orissa and CASHPOR Microcredit of Uttar Pradesh.

"Microfinance's early successes in alleviating poverty, has fired the imagination of all stakeholders. But in order for MFIs to achieve any significant scale or outreach, they need to become strong and stable financial service providers. To make the grade, MFIs must institutionalize their processes first. The objective of the Awards, which have an in-built training and monitoring component, is precisely to catalyze this change," says Romesh Sobti, Country Representative, ABN AMRO Bank N.V., India.

SKS, a recipient of a MPEA Award in 2005, was honored for its continued organizational and operational excellence. As one of the world’s fastest growing microfinance institutions, it is an industry leader in innovation, scalability and transparency, and currently boasts a disbursement of over Rs 240 crores in loans to 212,000 women clients in poor regions of 5 states in India.

VP Finance of SKS, Jennifer Leonard, noted, “It’s an honor to be awarded among our other outstanding peers. SKS will continue to strive for excellence and transparency in its operations with the hopes that we will serve greater and greater numbers of members in the coming years.”

MPEA aims to foster the adoption of process management practices and improve visibility and transparency of microfinance institutions. Awards were given in three categories, Flint, Flame and Fire for small, medium and large organizations, respectively, and divisions were made among the East, West, North East, North and South regions. The MPEA process serves to build upon the capacity of existing MFIs; training and capacity-building techniques are given to all awardees. Other honorees included National Winner, Grameen Koota of Karnataka, West Regional Winner BASIX of Andhra Pradesh and North East Regional Winner, the Center for Rural Development of Assam.


About ABN AMRO
With assets over US $504 billion and an AA credit rating, ABN AMRO Bank ranks among the top 10 banks in the world in size and strength. Our international network comprises 3,568 branches and offices in over 320 cities and 76 countries and territories, with over 100,000 highly qualified staff. ABN AMRO Bank (India) has an eight decade long experience of the Indian business scenario. For more information, refer to www.abnamro.co.in

About PlaNet Finance India is a member of the PlaNet Finance Global network based in France. So far, PlaNet Finance India has been supporting MFIs in eight states in India i.e. Rajasthan, Uttaranchal, Uttar Pradesh, West Bengal, Orissa, Andhra Pradesh, Tamil Nadu and Maharashtra. PlaNet Finance works to develop efficient microfinance mechanisms capable of delivering effective products and services to the poorest, foster social enterprise, community ownership of enterprises and market linkages for micro entrepreneurs, and eliminate the digital divide and empower the poor tapping the potential of information and communication technologies against poverty and exclusion. For more information, www.planetfinance.org.in

For further information, please contact: media@sksindia.com

   

 
 
 

 
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