SKS Microfinance appoints Ombudsman

SKS Microfinance Ltd today said it has appointed Mr Verghese Jacob as its Ombudsman with immediate effect and also created toll-free helpline in eight Indian languages.

Mr M.R. Rao, Managing Director and Chief Executive Officer, SKS Microfinance, said Mr Verghese will help the company set new benchmarks of excellence in customer protection and grievance redressal.

“The appointment of Mr Verghese Jacob as our Ombudsman showcases SKS Microfinance Ltd’s commitment to continue its pioneering customer protection and grievance redressal initiatives including its constant vigil on process, system and regulatory compliance and customer awareness programmes over the years,” Mr Rao said in a statement.

Mr Verghese said global and Indian development experts know that only microfinance can ensure that the fruits of liberalisation reach the less privileged in rural India and they also feel that microfinance has to reinvent itself to surpass regulatory prescriptions on customer protection and grievance redressal.

“I am confident SKS Microfinance Ltd will live up to such expectations and set new benchmarks in governance and customer protection,” the new ombudsman of SKS said.

Mr Verghese has over 30 years of experience spanning the corporate and social sectors. In the corporate world, he had held senior executive and board level positions with groups such as the Godrej, IBS, ACCEL, KVK etc. He also served as the Chairman of Bombay Round Table, the statement added.

SKS Microfinance shares were trading at Rs 89 apiece on the BSE in the early trade today.