SKS Microfinance Appoints Pramod Basin As Independent Director

Jan '2010

SKS Microfinance Ltd., India’s largest and the world’s fastest growing MFI, has appointed Pramod Bhasin as an Independent Director on the Board.

“Pramod brings with him a multifaceted dynamism, business acumen and pioneering spirit to the Board of SKS. I am sure, SKS is going to benefit immensely from his guidance and participation at the board,” said Vikram Akula, Chairperson and Founder, SKS Microfinance.

“SKS Microfinance has changed the way the MFI sector is perceived. The company’s value, its growth, leadership and the millions of lives that SKS Microfinance empowers is what made me want to be part of the Board. I see huge potential in this company and would like to help the leadership steer it to greater heights,” said Pramod Bhasin, President & CEO, Genpact.

Pramod Bhasin is the President and CEO of Genpact, the largest BPO in India. Pramod established Genpact (formerly GE Capital International Services) in 1997. He started the BPO industry in India, China, and in Eastern Europe. He is the Chairman of India's National Association of Software & Services Companies (NASSCOM) for the year 2009-10, and is also a member of the Board of Trustees of NASSCOM Foundation. In 2007, the International Quality and Productivity Center (IQPC) at the Shared Services and Outsourcing Global Conclave honored Pramod with the Lifetime Contribution Award. Pramod is also on the board of IIM Lucknow, Lady Shri Ram College and The Shri Ram School.

Pramod started his career as an Officer in General Electric (GE). His career with GE and RCA spanned 25 years across the US, Europe and Asia. He is a Chartered Accountant from Thomson McLintock & Co., London, and holds a Bachelor of Commerce degree from Delhi University.

On the Board of SKS are Vikram Akula, Chairperson and Founder, SKS Microfinance, Suresh Gurumani, CEO & MD, SKS Microfinance, Gurcharan Das, Author and Former CEO, Procter & Gamble, P H Ravikumar, Former Managing Director & CEO, NCDEX, Sumir Chadha, MD, Sequoia India, Geoff Wooley, Founding Partner, Dominion Ventures, Chairman, European Venture Partners, Chandra Shekran, Former Executive Director, SIDBI, Paresh Patel, Founder & Managing Partner, Sandstone Capital, Ashish Lakhanpal, Founder & Managing Partner.

About SKS Microfinance

SKS Microfinance is a non-banking finance company (NBFC) registered and regulated by the Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor. Established in 1998, SKS Microfinance is India’s largest microfinance organization. As per audited results of September 30, 2009, we have served 53 lakh members across 19 Indian states and have a loan outstanding of INR 28,011.08 million in loans with a 99.1 % repayment rate.

SKS operates in the states of Andhra Pradesh, Karnataka, Maharashtra, Orissa, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Himachal Pradesh, Haryana, West Bengal, Jharkhand, Chhattisgarh, Gujarat, Kerala, Tamil Nadu, Punjab and Delhi.

SKS has previously received awards which includes the Social and Corporate Governance Award issued by BSE and Nasscom Foundation for Best Corporate Social Responsibility Practice (2007), Social Performance Reporting Award (MFIs) - Silver Category for Social Performing rating conducted by MIX market (2009). It was founded by Dr Vikram Akula, who is one among the Young Global Leaders selected by World Economic Forum. He was named by TIME magazine as one of the 100 Most Influential People in the World (2006).