Svatantra Microfin’s Vineet Chattree takes helm as industry body navigates regulatory headwinds while serving 80 million women borrowers
The Microfinance Industry Network (MFIN) has appointed Vineet Chattree of Svatantra Microfin as its new Chairperson, signaling fresh leadership for India’s premier microfinance industry body as the sector grapples with structural challenges while expanding its reach.
Leadership Transition at Critical Juncture
At MFIN’s 16th Annual General Meeting in Gurgaon, Chattree, currently Managing Director at Svatantra Microfin Pvt Ltd, assumed the top role alongside Vice Chairperson Dibyajyoti Pattanaik, Director at Annapurna Microfinance Pvt Ltd.
The appointments come as India’s microfinance sector—serving over 80 million low-income women—navigates operational headwinds while maintaining its financial inclusion mandate across the country’s underserved communities.
Strategic Board Expansion
MFIN strengthened its governing structure with three new board members: Baskar Babu Ramachandran (MD & CEO, Suryoday Small Finance Bank), Krishnadas B Nair (EVP & Business Head – Microfinance, Axis Bank), and Gyan Mohan (Director & CEO, Adi Chitragupta Finance) representing small NBFC-MFIs.
The industry body also welcomed independent directors Veena Mankar (Founder & Director, Swadhaar FinAccess) and former RBI Executive Director Saurav Sinha, adding regulatory expertise to the board.
Optimistic Outlook Despite Challenges
“The industry has consistently shown purpose and impact, growing stronger with time,” Chattree stated, highlighting supportive regulations and favorable macroeconomic conditions positioning the sector for deeper financial inclusion.
Pattanaik acknowledged the sector’s structural challenges while emphasizing transformation potential: “As the industry scales its outreach, it has the power to transform lives, especially for women and underserved communities.”
Decade of Self-Regulation
MFIN CEO Dr. Alok Misra noted the organization’s milestone as India’s first Self-Regulatory Organization (SRO), marking 10 years of driving responsible finance and client protection across RBI-regulated entities including NBFC-MFIs, banks, Small Finance Banks, and NBFCs.
The leadership transition follows the departure of board members Abhisheka Kumar (Sindhuja Microcredit), Ankush Golechha (Aviral Finance), and George K. John (ESAF Small Finance Bank), who were recognized for their contributions to the industry.
As India’s microfinance sector continues expanding its footprint while addressing regulatory compliance and operational efficiency, the new leadership faces the dual challenge of maintaining growth momentum while ensuring sustainable community empowerment across the nation’s financial inclusion landscape.
