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Last week Sa-dhan — the self-regulatory organisation (SRO) for microfinance companies — released a manual on customer redress based on global best practices. Set up in 1999 as a trade and policy advocacy body, it got the status of an SRO from Mint Road a decade ago. “There’s equal role for the development of the sector and strengthening institutions,” says Jiji Mammen, Sa-dhan’s executive director and chief executive officer (CEO). Two committees — on enforcement and grievance redress — guide Sa-dhan in ensuring responsible lending and dispute resolution among members.
The Fintech Association for Consumer Empowerment (FACE) was waved in
