Mitrata Inclusive Financial Services is a dynamic NBFC, established on September 1, 2017, following the successful launch of the Mitrata program by At-Grassroots Society on December 1, 2009. Under the leadership of Managing Director Dr. Aqueel Ahmed Khan, Mitrata has expanded its footprint to 68 branches across 5 states - Uttar Pradesh, Madhya Pradesh, Haryana, Rajasthan, and Bihar - serving over 1 lakh customers.
NOTABLE INITIATIVES
In the last 12 months, one significant development at Mitrata has been the appointment of Achla Savyasaachi as an Independent Director. Dr. Aqueel Ahmed Khan explained: "Achla Savyasaachi has joined Mitrata as an Independent Director, bringing our total to 4 independent directors, including a woman independent director. For a small-sized company, having such a strong board is rare."
Emphasizing a reflective approach, Mitrata has initiated efforts to reconnect with its foundational principles by engaging with field officers and branch managers. This initiative aims to revisit the core reasons for the existence of Microfinance Institutions (MFIs), focusing on the history, community engagement, and the fundamental principles of Joint Liability Groups (JLGs). This process is about unlearning past practices to relearn effectively.
To enhance operational effectiveness, Mitrata has also established a field-based cadre of Quality Managers responsible for underwriting and monitoring Loan Utilization Compliance (LUC), ensuring adherence to credit policies in the field.
ACHIEVEMENTS
Bu hikaye Banking Frontiers dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Banking Frontiers dergisinin October 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.
