The SROC is the appellate body for EC decisions. The SROC can recommend suspension, expulsion and termination of membership to the Board with a speaking order in writing. In addition, SROC provides oversight and directions to SRO functions.
The SROC comprises of 5 (five) Members of which 2 (two) are from amongst the Elected Members of the Board and 2 (two) from Independent Members on the Board. The remaining 1 (one) member of the SROC is an independent person of eminence who is familiar with the financial services industry, whose appointment is approved by the Board. In addition, the Chairperson of the Enforcement Committee (EC) is the member to the SROC. MFIN, CEO is the non-voting Ex-Officio Member of the SROC and the Compliance Officer of MFIN acts as a Member Secretary of the SROC. Current composition the SROC is as under:
|Name ||Representative Organization |
|Dr Aruna Sharma (Interim) Chair ||Independent Member, Indian Administrative Service Officer (Retd.) |
|Mr Devesh Sachdev ||Industry Member, MD & CEO, Fusion Microfinance Pvt. Ltd. |
|Mr Vineet Chattree ||Industry Member, Director, Svatantra Microfin Pvt. Ltd. |
|Dr Alok Misra ||CEO & Director, MFIN |
|Ms Sugandh Saxena ||Member Secretary |
MFIN has a dedicated SRO vertical Headed by SRO Head who is responsible for managing all the SRO functions. Currently, SRO vertical has 4 team members as under.
|SRO Team ||Position |
|Sugandh Saxena ||Head, SRO |
|Sheetal Prasad ||AVP, Self-regulation & Compliance |
|Jay Tripathi ||AVP, Regulation and Surveillance |
|Sankalp Tripathi ||AVP, Grievance Redressal |