Dispute arises between members of an industry can occur over breach of code of conduct or anti-competitive practices. By joining MFIN, members have in-principle agreed that if they believe fellow members are in violation of trade rules, they will use the SRO system of settling disputes instead of taking action unilaterally.
For proper enforcement of the Code of Conduct and exercising oversight for adherence to regulatory norms prescribed by the Reserve Bank of India / Government / any other regulatory authority, MFIN has an Enforcement Committee (EC). The EC comprises of: Five (5) members, of which two (2) are elected from amongst the Authorized Representatives of Member institutions and Three (3) members, are independent persons of eminence.
Whenever any member of MFIN feels that any other member has violated the Code of Conduct of the Society or the regulations, such member can write to the EC giving details of the same and request action. The EC has been instrumental in the preparation of formal processes for the reporting and inquiry of CoC and regulatory violations.
The EC is chaired by Mr. Haresh Kulshrestha, former CGM, RBI. The members of the Enforcement Committee are as under:
Enforcement Committee Members
|Mr. Haresh Kulshrestha (Chair)||Chief General Manager (Retd.), RBI|
|Mr. Anil Girotra||Ex-ED, Andhra Bank|
|Mr. K S Singhwan||Chief General Manager (Retd.), SIDBI|
|Mr. Prakash Sundaram||CRO, Disha Microfinance Pvt Ltd.|
|Ms. Carol Furtado||COO, Ujjivan Financial Services Pvt Ltd|
A member institution (NBFC-MFIs) having information about another member MFI violating Regulatory norms / Directions for the Microfinance industry (whether prescribed by RBI / Central Govt. / State Govt) and/or Code of Conduct may submit a formal complaint to firstname.lastname@example.org, along with all necessary and adequate documentary proofs.