Mr Jiji Mammen
CEO, Sa-Dhan
Mr. Jiji Mammen is an industry veteran with over 36 years of experience in microfinance, agriculture and rural development. He was earlier the Managing Director of NABFINS, an NBFC MFI promoted by NABARD. He was the founder, MD & CEO of Micro Units Development and Refinance Agency Ltd. (MUDRA), an NBFC formed to support the flagship programme of Govt. of India, viz. Pradhan Mantri Mudra Yojana for three years from 2015. He has been CGM at NABARD, heading the regional offices in Rajasthan, Andhra Pradesh and Telangana. Mr. Mammen was also the country head of the Department of Refinance in NABARD.
Mr Jiji Mammen at the Defining Responsibility Framework, an India 2047 - Centre of Excellence Workshop
Mr Jiji Mammen
CEO, Sa-Dhan
Key Points
- The SRO focuses on implementing regulatory frameworks set by the Reserve Bank of India and their own code of conduct.
- Their code of conduct covers client interactions, employee treatment and borrower eligibility assessments.
- Monitoring compliance ensures responsible lending practices.
- Acknowledges the relevance of corporate digital responsibility but sees its direct alignment as limited currently.
- Anticipates its inclusion in future regulatory frameworks and codes of conduct.
- Emphasis is placed on client protection and responsible lending to safeguard borrowers' mental and physical health.
Recommendations
Enhance Corporate Digital Responsibility
- Acknowledge the relevance of corporate digital responsibility and work towards expanding its alignment within current operations.
Anticipate Future Regulatory Changes
- Expect the inclusion of corporate digital responsibility in future regulatory frameworks and codes of conduct and prepare for compliance accordingly.
Focus on Client Protection
- Place emphasises client protection measures to ensure borrowers' mental and physical well-being.
Promote Responsible Lending Practices
- Strengthen efforts to monitor compliance and enforce responsible lending practices to safeguard borrowers' interests.
- Support start-ups and fintech companies that are developing innovative solutions for financial inclusion.
