Latest news with #SRO
Hans India
a day ago
- Business
- Hans India
Sa-Dhan Launches Toll-Free Number to Strengthen Grievance Redressal in Microfinance Sector
Bengaluru: Amidst growing concern around borrower stress, delinquencies, and the evolving regulatory landscape, Sa-Dhan—the RBI-recognised Self-Regulatory Organisation (SRO) for the microfinance sector—hosted a national conclave today in Bengaluru titled 'Emerging Role of Microfinance in the Changing Financial Landscape.' The day-long event brought together senior leaders, institutional heads, and compliance experts to reflect on the state of microfinance, introduce practical tools for client protection, and engage with emerging challenges including recent policy developments in Karnataka. At the centre of the discussions was the launch of a toll-free grievance redressal number and the release of a Client Grievance Redressal Mechanism (CGRM) manual, developed with M2i Consulting. These steps mark a sector-wide push to improve transparency, client trust and institutional accountability. Delivering the keynote at the inaugural session, Jiji Mammen, Executive Director and CEO of Sa-Dhan, reinforced this view. 'Responsible lending and client protection are at the heart of financial inclusion,' he said. 'A robust grievance redressal mechanism is central to this effort — not just in form, but in spirit. It must be implemented meaningfully to ensure that clients feel heard and supported at every step.' The event brought together senior leaders and compliance heads from across the sector. The first panel reflected on microfinance's role in reaching underserved communities and its resilience through recent disruptions. While the sector comprises only 3% of India's total retail finance market, its impact is significant. Panellists spoke of the need for tailored, tech-enabled solutions that retain the human touch. The CGRM manual, launched by Deepak Alok of M2i, is designed to help especially smaller MFIs build effective internal systems. It includes process flows, escalation protocols and tools to support ongoing training and monitoring. A second panel explored how grievance redressal is becoming central to institutional strategy. Participants from Ujjivan SFB, IDF Financial Services, Spandana Sphoorty and Svamaan Financial Services shared evolving practices—from board-level oversight to mystery audits and gender-sensitive support structures. The new toll-free helpline is managed in-house and currently operates in Hindi and English, with plans to expand to ten regional languages. It serves as a second-level grievance platform—bridging the gap between the MFI and the RBI. Closing the event, Somesh Dayal, Deputy Director at Sa-Dhan, shared plans to roll out the manual across regions over the next six months, through webinars and in-person training sessions for grievance and compliance officers. As borrower protection gains ground in both policy and practice, the conclave underscored the sector's shared commitment: not just to meet regulations, but to strengthen trust and accountability where it matters most—at the client level.
Time of India
2 days ago
- Business
- Time of India
Microfinance sector introduces new grievance redressal tools for customer protection
To boost customer protection in the microfinance sector, Sa-Dhan , the RBI-recognised Self-Regulatory Organisation (SRO), on Tuesday launched a sector-wide toll-free grievance helpline along with a comprehensive Client Grievance Redressal Mechanism (CGRM) manual. The new toll-free helpline is managed in-house and currently operates in Hindi and English, with plans to expand to ten regional languages, Sa-Dhan said in a statement. It will serve as a second-level grievance platform and bridging the gap between the MFI and the RBI . The CGRM manual has been designed to help smaller MFIs build effective internal systems. It includes process flows, escalation protocols and tools to support ongoing training and monitoring. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Accounting Automation Software Might Help You To Earn More Accounting Automation Software | Search ads Undo During the national conclave held in Bengaluru on the theme 'Emerging Role of Microfinance in the Changing Financial Landscape,' the two initiatives were announced in collaboration with M2i Consulting. The SRO said these efforts aim to build greater transparency, trust, and accountability in microfinance operations. The event revolved around the state of microfinance, practical tools for client protection, and engaging with emerging challenges including recent policy developments in Karnataka. Live Events 'Responsible lending and client protection are at the heart of financial inclusion ,' said Jiji Mammen, Executive Director and CEO of Sa-Dhan, during his keynote address. 'It's important that grievance redressal is not just a process but a meaningful commitment to our clients,' he added. The organisation said that while microfinance forms just around 3% of India's overall retail lending market, its role in supporting underserved communities is seen as critical. Industry leaders from institutions like Ujjivan SFB , Spandana Sphoorty , and Svamaan Financial Services discussed how grievance redressal is becoming central to institutional strategy, with measures such as board-level oversight, gender-sensitive processes, and regular mystery audits.
Winnipeg Free Press
7 days ago
- Winnipeg Free Press
Sword attack underscores need for police in schools: premier
The premier is urging the largest school board in Manitoba to re-invite uniformed police officers to work on its campuses in the wake of a violent attack at a high school in Brandon. The Winnipeg School Division stopped paying for nine school resource officers, better known as SROs, in 2021. Trustees — who, at the time, were under pressure from critics concerned the program was an example of police overreach and made racialized students feel unsafe — cited budget pressures. MIKAELA MACKENZIE / FREE PRESS Premier Wab Kinew spoke about his positive experience with the police-in-schools program as both a father and MLA. Other divisions have continued to partner with their local police service to host constables to deliver presentations on everything from bullying to drugs and to undertake threat assessments, among other tasks. Three days after a student tipped off an SRO about a threat at Neelin High School, Premier Wab Kinew publicly thanked the unnamed constable who was part of the subsequent response. 'Your quick-thinking, your decisive action, your compassion, really prevented a really bad situation from becoming potentially even worse. You're a hero,' Kinew said Friday during a news conference about safety efforts in Winnipeg. The event was located at The Forks, about 250 kilometres east of the Grade 9-12 campus that is reeling from a sword attack. A 16-year-old male has been charged with attempted murder after repeatedly stabbing the student. The victim, also a teenage boy, is recovering from serious injuries. Brandon Police Service Chief Tyler Bates credited the proactive planning between police and the local school division, much of which is done via SROs, for a 'seamless' response to the incident. Bates said all officers on the scene showed 'exceptional bravery, professionalism and restraint.' A taser was deployed to arrest the suspect, he said. Police and school officials said a student contacted the building's designated SRO directly at 1:15 p.m. on Tuesday to report that someone was acting erratically and in possession of a weapon. The SRO was working out of police headquarters dealing with another incident when he got a call directly from a student, said Janet Reichert, a communications officer for the police service. School staff learned an armed male was in the building around the same time and immediately called 911 and put the building into lockdown, as per a memo issued by the Brandon School Division. Asked about his thoughts on SROs being cut from campuses in Winnipeg, the premier spoke about his positive experience with the police-in-schools program as both a father and MLA. Kinew has three boys, two of whom are currently enrolled in the Winnipeg School Division. He recalled socializing with an SRO at high school hockey games when they were still actively working in his division. 'I've seen that SROs are positive for my kids' schools and schools in my community and when you see a heroic action like we saw in Brandon this week, then it really speaks to another dimension,' he said. One of the reason SROs exist is to build relationships between police and young people, Kinew noted. He urged WSD to consider reinstating SROs — whose salaries are paid through partnerships between divisions, police and the province — although he indicated he is not issuing a directive. Matt Henderson, superintendent of the division that has 80 buildings in central Winnipeg, said the subject has not been raised on any trustee agendas this year. Wednesdays A weekly dispatch from the head of the Free Press newsroom. School board chair Kathy Heppner did not immediately respond to a request for comment Friday. The Canadian Centre for Policy Alternatives released a study on the experiences of students who are Indigenous, Black and people of colour with racism, policing and school safety in 2022. It was informed by interviews with 24 youth, 13 caregivers and two indivdiuals affiliated with a community organization in the Winnipeg's North End or downtown core. 'In discussing their feelings toward school police officers, participants used words such as 'distressed,' 'intimidated,' 'scared' and 'paranoid,'' author Fadi Ennab wrote in the report, 'Safer Schools Without Policing Indigenous and Black Lives in Winnipeg.' 'The mere presence of police in schools was perceived to be a cause of harm and injustice.' Maggie MacintoshEducation reporter Maggie Macintosh reports on education for the Free Press. Originally from Hamilton, Ont., she first reported for the Free Press in 2017. Read more about Maggie. Funding for the Free Press education reporter comes from the Government of Canada through the Local Journalism Initiative. Every piece of reporting Maggie produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
CTV News
13-06-2025
- Business
- CTV News
Calls for BC Housing inquiry on Granville Strip
Vancouver Watch Businesses on Granville Street are calling for the province to do something about a notorious SRO building where chaos has become routine.
CTV News
13-06-2025
- Business
- CTV News
Granville bar owners call for BC Housing inquiry as SRO disorder plagues entertainment district
Firefighters were called to an SRO building on Granville Street on June 10, 2024. A group of hospitality business owners gathered Wednesday morning to say they've had enough of the street disorder and building damage that often forces them to shut their doors and turn away customers in the city's entertainment district. It comes one day after a fire at a single-room occupancy hotel owned by the province caused significant water damage to Aura Nightclub on Granville Street. As firefighters poured water into a top floor unit, it cascaded down six-storeys and tore a hole in the ceiling of the ground-floor business. 'I don't even know if I'm going to be open this weekend. Just last month, I was closed for 16 days,' said Aura owner Alan Goodall. 'I had 50 staff members out of work. People that live paycheque to paycheque were given 24 hours notice, and they didn't know how they were going to pay their rent.' According to Vancouver Fire Rescue Services, there have been 44 fires in the building since 2020, when it was converted from a Howard Johnson Hotel to a BC Housing SRO. 'Just in the last month alone, my ceiling has caved in in three different locations,' said Goodall. Investigators deem the latest fire accidental and say it was caused by a butane torch used for smoking drugs. The business owners say much of the disorder in the entertainment district can be traced back to the two SRO's directly across from each other in the 1100-block of Granville Street. Each also has a nightclub on the ground floor. On Thursday morning, a man smoking something out of a glass pipe in the doorway of Aura startled Mayor Ken Sim and Vancouver Police Chief Department Chief Const. Steve Rai as they made their way inside with Goodall to survey the most recent damage. The Hospitality Vancouver Association is demanding the province take steps to relocate the supportive housing units away from the entertainment district. 'This is not an anti-poverty message. This is a message to get people who need help the proper help,' said Dave Kershaw, who owns Cabana Nightclub on the ground floor of one of the SROs. 'They are not being served being put in SROs on Granville Street. And at the same time, it is destroying our businesses.' Provincial Housing Minister Ravi Kahlon appears to be onboard with moving supportive housing away from Granville Street, but no timeline has been made public. 'We appreciated the city offering to bring three pieces of land to the table so we can build purpose-built supportive housing elsewhere,' said Kahlon. 'We're committed to that, and I confirmed that with the mayor yesterday.' At the former Howard Johnson Hotel on the east side of the street, many of the windows are covered in thick layers of pigeon feces, suggesting the building may not be getting the regular maintenance one would expect of a BC Housing property. 'We at Hospitality Vancouver Association today are calling for a full inquiry related to BC Housing, their funding model, their oversight and their accountability,' said Laura Ballance, a spokesperson with the Hospitality Vancouver Association. The province did not directly respond to questions about whether it would open an investigation into BC Housing, but did provide a statement. 'As BC Housing continues to deliver on government commitments, we must also modernize and adapt to create more efficiencies in how it operates,' it said. 'This work is underway and is supported by government.'
