Fusion Micro Finance wins Microfinance Organization of the Year Award
New Delhi, January 2023: Fusion Micro Finance [BSE (BOM: 543652) and NSE (NSE: FUSION)], India’s second largest NBFC-MFI, has been felicitated with the prestigious “Microfinance Organization of the Year Award” by Inclusive Finance India Awards 2022, a joint initiative of ACCESS Development Services and NITI Aayog. The award was handed over by Dr. V. Anantha Nageswaran, Chief Economic Advisor, Government of India to Mr. Devesh Sachdev, Founder, and CEO, of Fusion Micro Finance and Chairperson, MFIN. The company received this top honor for its exceptional performance in the field of providing microcredit to over 3.2 million economically and socially deprived women in rural and semi-urban areas, thus furthering the national agenda of Financial Inclusion and Atmanirbhar Bharat. Founded in 2010, Fusion Micro Finance is the youngest amongst the top 3 pure-play Microfinance companies in India with Asset under Management (AUM) to the tune of INR 80,471.78 million as of 30th September 2022. Today, the company operates through a strong, diversified network of more than 1031 branches spread across 19 states, including 2 Union Territories. Fusion MF got listed on NSE and BSE in November 2022.
Commenting on this recognition Mr. Devesh Sachdev, Founder, and CEO, of Fusion Micro Finance and Chairperson, MFIN said, “We are grateful and humbled at being recognized for our efforts and contribution towards bringing women into the mainstream financial system, which is critical for the realization of India’s Financial Inclusion strategy. The microfinance sector is working tirelessly to make the unbanked and underserved population of India, financially self-reliant, and we aim to make a positive difference in as many lives as possible for a brighter future.”
Radhika Agashe, Executive Director, of ACCESS Development Services said “Inclusive Finance India Awards constantly aligns itself to bring different models and institutions contributing to the goal of financial inclusion under one umbrella. Heartfelt congratulations to Fusion Micro Finance as we present them with the highly coveted Microfinance Organization of the Year award in the large category. The recognition was conferred upon Fusion Micro Finance for efficient operational performance, promoting good governance, customer protection principles, and client-centric practices while delivering on the promise of driving financial inclusion across the country. We wish them well and sincerely hope that they continue to work tirelessly to serve India’s unbanked population and help us move closer to becoming a developed nation.”
The Inclusive Finance India Awards is an initiative of ACCESS Development Services institutionalized in 2009, in partnership with HSBC India. It is part of the ACCESS Inclusive Finance India Summit, with NITI Aayog as the Co-Host. The Inclusive Finance India Awards works towards honoring organizations, institutions, practitioners, and policymakers contributing to the goal of financial inclusion, helping improve the delivery of financial services to the underprivileged, and marginalized communities.