SKS Recieves Social Performance Reporting Award-2009

• Award sponsored by CGAP, Michael and Susan Dell Foundation and Ford Foundation and powered by MIX Market

SKS Microfinance, India’s largest and the world’s fastest growing MFI has been awarded Silver. The award is sponsored by CGAP with Michael & Susan Dell Foundation, the Ford Foundation, and the Social Performance Task Force (SPTF), powered by Microfinance Information Exchange (MIX), the world’s leading business information provider for the microfinance industry.

Suresh Gurumani, CEO, SKS Microfinance who received the award on behalf of SKS, said “This award goes not only to SKS Microfinance, but to each one of the 53 lakh women enterprisers who have reached their own milestones with their grit and determination and a small credit from us.”

Social Performance Reporting Award is given out in response to the need for implementing standards in microfinance operations providing services to the poor. This Social Performance Standards Report was created by MIX to collect information on the 22 core indicators of which 13 indicators focus on MFI’s mission, products and services offered, social responsibility to clients and to staff, and clients outreach; 6 indicators focus on employment outreach, social responsibility to community and to environment, and children education; 3 indicators focus on poverty levels. . The award recognizes transparency in social performance reporting, not social performance achievements. The award does not recognise performance indicators, such as return on assets, portfolio at risk, or operating efficiency. Instead it recognizes microfinance providers who provide reports on a set of social performance indicators. The MFI Silver Certificate Award recognizes MFIs that comply with minimum SPTF core disclosure requirements.

The other awards received by SKS are the Young Global Leaders by World Economic Forum, CGAP Pro-Poor Innovation Award, the ABN-AMRO/Planet Finance Process Excellence Award, Citibank Information Integrity Award, the Digital Partners SEL Award and the Grameen Foundation USA Excellence Award.

About SKS Microfinance
SKS Microfinance is a non-bank finance company (NBFC) whose mission is to eradicate poverty by providing financial services to the poor.

Established in 1998, SKS Microfinance is India’s largest and the world’s fastest growing microfinance organizations with an annual growth rate of 188 per cent. It currently serves 53 lakh members across 62,000 villages and slums in 19 states and has disbursed nearly Rs.9,840 crore in loans with a 99.5 % repayment rate. SKS also provides life and retail insurance to its members.

SKS operates in the states of Andhra Pradesh, Karnataka, Maharashtra, Orissa, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, West Bengal, Jharkhand, Chhattisgarh, Gujarat, Kerala, Tamil Nadu, Haryana, Himachal Pradesh, Punjab and Delhi.

SKS has received numerous awards including the Young Global Leaders by World Economic Forum, CGAP Pro-Poor Innovation Award, the ABN-AMRO/Planet Finance Process Excellence Award, Citibank Information Integrity Award, the Digital Partners SEL Award and the Grameen Foundation USA Excellence Award. It was founded by Vikram Akula, who was named by TIME magazine as one of the 100 Most Influential People in the World (2006).

For further information, please contact:
Rashmi Krishnan
Mobile: +91 9959021137
E-mail: rashmi.krishnan@sksindia.com
Website: www.sksindia.com

Murugan.G
Sampark PR
Chennai
98412 78904

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