Preparing us for tomorrow – Sarala Development & Microfinance Private Limited

Preparing us for tomorrow

Problem

  • Being a Private Limited Company, they needed to address why should corporate governance.
  • The appointment of Independent Directors was a very new concept back in 2015.
  • To adopt standards in the Board that ensured that the Independent Directors may exercise independent judgement in the Board.
  • For better Corporate Governance the Board has constituted its committees to focus effectively on the issues and resolution.

Solution

  • Sarala has overcome this by developing a strong compliance culture supported by continuous training programs 
  • Sarala has implemented a structured board recruitment process that targets diversity in skills, experience, and perspectives. 
  • To effectively manage risks, Sarala has developed a comprehensive risk management framework.
  • Focus on adopting user friendly Technology and Cybersecurity and focus Environmental, Social, and Governance.

Outcomes

  • A robust Corporate Governance and financial management reporting system has increased lender’s confidence.
  • An effective governance framework has helped to mitigate risks.
  • Transparent internal policies and control mechanisms has helped Sarala enhance company’s reputation.
  • Sarala’s corporate governance framework establishes a clear delineation of roles between owners and management

SKOCH Award Nominee

Category: Financial Services
Sub-Category: NBFC & MFI – Corporate Governance
Project: ‘Preparing us for tomorrow’
Start Date: 9-30-2015
Organisation: Sarala Development & Microfinance Private Limited
Respondent: Pranab Rakshit
https://sarala.co.in/
Level: BFSI – 1


See Presentation


For more information, please contact:
Pranab Rakshit at pranab.rakshit@sarala.co.in


(The content on the page is provided by the Exhibitor)

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