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May 01, 2006 |
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Vikram Akula, SKS Microfinance Founder & CEO, named to TIME
Magazine�s Top 100 List of Most Influential People
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Hyderabad, India � Recognized
for his vision and leadership as the Founder and CEO of SKS
Microfinance, one of the world�s fastest growing microfinance
institutions, Vikram Akula has been named by TIME Magazine as one of
�The People Who Shape Our World� for 2006. The annual list that
celebrates the lives and ideas of the world�s most influential
people was released today and includes global leaders such as Bill
Clinton, Bill & Melinda Gates and George W. Bush.
Vikram joins Nandan Nilekani, Infosys Founder and President, as one
of two Indians to make the list. He was highlighted for his work as
a pioneer in the microfinance industry and dedication to improving
the lives of the poor in India.
A native of Hyderabad, Vikram founded SKS in 1998 to empower the
poor to become economically self-reliant by providing financial
services in a sustainable way. �Even though it�s my name on the
list, the true honorees are our clients across the country who
struggle everyday to overcome poverty and inspire us with their
courage,� said Vikram. �I started SKS because I was overwhelmed by
the poverty I saw in India and was looking for a way to catalyze
rapid economic development for the poor,� he continued. |
Today, SKS is one of the fastest growing microfinance organizations
in the world, having disbursed over $52 million (Rs 240 crores) in
loans to 221,000 women clients in poor regions of India. �This is a
great recognition of the pioneering microfinance movement in Andhra
Pradesh. It highlights the tremendous groundwork done by
microfinance practitioners�both government and private
institutions�in bringing finance to the poor,� added Vikram.
Vikram has dedicated much of his professional life to addressing
India�s poverty. Prior to launching SKS, Vikram was a Fulbright
Scholar in India, during which he coordinated a government-funded (Jawahar
Rozgar Yojana) action-research project on providing microfinance for
food security. He has also worked as a community organizer with the
Deccan Development Society in Andhra Pradesh and as a researcher
with the Worldwatch Institute, where he wrote articles on poverty
and development. He holds an BA from Tufts, an MA from Yale and
Ph.D. from the University of Chicago, where his dissertation focused
on poverty alleviation strategies.
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