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April 7, 2006 |
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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
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