A study report based on the contribution of microfinance companies to promote one trillion dollar economy in the state will be released. The objective of the conference is to develop a sustainable and reliable micro finance model.
Lucknow: A press conference was organized by the Microfinance Association of Uttar Pradesh (UPMA) at Gomti, a local hotel in Lucknow. During the program, information was given about the 7th annual session of UPMA to be held on 18 November 2024 at Hotel Taj, Lucknow. In this session, Asim Arun, Minister of State Independent Charge Social Welfare, Government of Uttar Pradesh, has given his consent as the Chief Guest and Dinesh Khara, former Chairman State Bank of India and Vijay Mahajan, who is called Bhishma Pitamah of Microfinance, have given their consent as the keynote speaker.
Kapildev Agarwal, Minister of State for Skill Development, has given his consent for the closing session of the conference.
UPMA’s Chief Executive Officer Sudhir Sinha informed that the main and most important topic of discussion has been chosen for this annual convention to be held in Lucknow on 18th November and that is “A study report will be released on the contribution of microfinance companies in achieving the goal of one trillion dollar economy in Uttar Pradesh.”
He further informed that the objective of this year’s conference is to develop a sustainable and reliable micro finance model.
In this conference, including the head of the self-regulatory organization of micro finance, Sadhan, GG Memon, research scholars of educational institutions, many financial experts, CEOs of micro finance companies as well as senior officials of NABARD, RBI and SIDBI will participate.
Micro Finance Association of Uttar Pradesh (UPMA) organizes its annual program every year. This year the organization is also completing 11 years of its establishment. Micro Finance Association of Uttar Pradesh was established on 15 December 2013. Micro finance institutions are registered with the Reserve Bank of India and provide employment oriented loans to the weakest section of the society at their home. About thirty institutions working in the same field are associated with the association. The association encourages its member institutions to give loans to customers in a healthy and transparent manner. The association also monitors that all the institutions strictly follow the rules laid down by the Reserve Bank of India. The association also organizes many training programs for member institutions and also organizes programs like digital literacy and financial literacy for customers.
Chief Executive Officer of the Association Sudhir Sinha, Chief Executive Officer Sonata Finance Anoop Singh, S.K. Bhargava CFO Sonata Finance, Bharat Singh AVP Satin Credit Care and Paras Vasnik AVP of Muthoot Finance were present in today’s program.
