Dr. Ajay Shah
Dr. Shah is a researcher at the National Institute of Public Finance and Policy (NIPFP), New Delhi. He co-leads the Department of Economic Affairs’ Research Programme, undertaken in collaboration with the NIPFP. He currently works as a Consultant to Financial Sector Legislative Reforms Commission. He has previously been involved with the Centre for Monitoring Indian Economy (CMIE) and the Indira Gandhi Institute for Development Research (IGIDR). Dr. Shah holds a Ph. D in economics from the University of Southern California, Los Angeles, and an engineering degree from the Indian Institute of Technology Bombay.

Dr. Ajay Tannirkulam
Dr. Tannirkulam is the Executive Director of Centre for Micro Finance, IFMR Research. He oversees more than 25 researchers working on more than 30 projects across India, in partnership with a wide range of MFIs and other development organizations, international academics and donors. Ajay joined CMF as the Program Head of the Analytics Division in January 2009. He has a B. Tech in Engineering Physics from IIT Bombay and PhD in Astonomy and Astrophysics from the University of Michigan.

Mr. Ajit Dayal
Mr. Dayal is a Director at Quantum Advisors Pvt Ltd and Quantum Asset Management Company Pvt Ltd. Ajit Dayal has over 24 years of experience in the Indian capital market and 8 years of experience in the international stock market as an analyst and a portfolio manager. He has a Bachelor of Arts degree in Economics, Mumbai University and an MBA from The University of North Carolina. Ajit is the founder member of Quantum which was established in 1990.

Mr. Anand Sahasranaman
Mr. Sahasranaman leads the work of the IFMR Finance Foundation, working on issues of financial system design such as consumer protection, public finance and systemic risk. He had previously worked on the structured credit desk at Broadstreet Group, a New York based hedge fund. He graduated with an MBA from Carnegie Mellon University and has a bachelor’s degree in engineering.

Mr. Arjun Raychaudhuri
Mr. Raychaudhuri works with J.C. Flowers, a global private equity firm focussed purely on financial institutions. Prior to this, he worked with JPMorgan in New York and London, in their financial institutions team, and Oliver Wyman in Europe. His work has been focussed on scaling start-up and restructuring distressed financial institutions. He is deeply interested in financial system and regulatory design, having been involved with financial institutions operating in various regulatory regimes during the course of his career. He was a Rhodes Scholar at Oxford, and holds an MBA degree from Wharton School of Business.

Ms. Bindu Ananth
Ms. Ananth is the President of the IFMR Trust, and serves as the Chairman of the Board of IFMR Finance Foundation. She is also the founder of the Centre for Micro Finance at IFMR, where she worked briefly as the Coordinator. Previously, Ms. Ananth served at the ICICI Bank in its microfinance practice from 2001 to 2005, and was the Head of the New Product Development Group within ICICI Bank’s rural finance business in 2007. She has published in the Small Enterprise Development Journal, the Economic and Political Weekly, the OECD working paper series, and the IFMR working paper series. Ms. Ananth holds Masters’ degrees from Harvard University’s Kennedy School and the Institute of Rural Management, Anand, and an undergraduate degree in Economics from Madras University.

Mr. Dave Wallack
Mr. Wallack is the Chief Design Officer at IFMR Rural Finance. He has previously served as a marketing and HR strategist for various private sector and political clients in the USA. He specialises in building and motivating organisations to operate effectively in rapidly changing environments. Mr. Wallack holds an MBA from the Stanford Graduate School of Business.

Mr.Gaurav Kumar
Mr. Kumar is the Head of Origination-Micro Finance Business at IFMR Capital. . In previous assignments Gaurav has worked on Terminal markets to strengthen supply chain for perishable commodities and identification and development of new channels for financial products. He holds a degree in Geo informatics from University of Delhi, an M.B.A from Institute of Rural Management, Anand (IRMA)

Ms. Jayshree Venkatesan
Mrs. Venkatesan is the CEO of IFMR Mezzanine. Her work experience includes working with the Social Initiatives Group of ICICI Bank in funding and monitoring action-research projects in the area of education and health. At IFMR Trust, Jayshree has also been closely involved with advocacy for financial inclusion and was part of an internal team that handled a series of columns titled “Finance Matters” over the period of one year with the Hindu Business Line. Jayshree has completed a bachelor’s degree in Mathematics from Wilson College, Mumbai University. She also has a PGDBM from Management Development Institute (MDI), Gurgaon.

Mr. KG Krishnamoorthy Rao
Mr. Rao is the Managing Director & Chief Executive Officer of Future Generali India Insurance Company Limited, which is a joint venture between two business houses Future Group and Generali Group. He is responsible for the entire business of Non Life in India. Mr. Rao joined Future Generali as Chief Underwriting officer in 2007. Mr. Rao has over 21 years of rich professional experience in Insurance and Risk Management. Prior to joining Future Generali, Mr. Rao worked with Bajaj Allianz General Insurance Co., Ltd., where he was heading the underwriting function across all lines and was instrumental in setting up the Underwriting and Operations team for the Company and contributed to the underwriting profit of the company. He has also worked with Dhabol Power Company, Enron India as Risk Manager; Tata AIG Risk Management Services offering Risk Management Consultancy; National Insurance Co. Ltd. As Risk Engineer handling Property and Engineering underwriting and claims; and Indian Space Research Organization as Scientist. Mr. Rao is a Bachelor in Technology, Production Engineering from University of Calicut, and is a Fellow from Insurance Institute of India.

Mr. K. K. Srinivasan
Mr. K. K. Srinivasan currently works a consultant to World Bank. Mr. Srinivasan is a former member of Insurance Regulatory and Development Authority.

Dr. K.P. Krishnan
Dr. Krishnan is an Indian Administrative Service Officer from the 1983 Karnataka Cadre, and currently serves as the Secretary of the Economic Advisory Council of the Prime Minister of India. Prior to this, he served as the Joint Secretary of Capital Markets Division of the Department of Economic Affairs, Ministry of Finance, Government of India, where he sent out various regulatory frameworks governing securitisation and the Pension sector for Parliamentary approval. He has also served as an advisor to the Executive Director of the World Bank in Washington D.C. He received his Ph. D in Economics from the Indian Institute of Management (IIM), Bangalore, and an M.A. in Economics from the University of Mysore.

Ms. Kate McKee
Ms. McKee is a Senior Advisor at the Consultative Group to Assist the Poor. Ms. McKee leads CGAP’s research, writing, and policy advisory work on consumer protection, including analysis of policy/regulatory/supervision options for market conduct regulation in low-access markets. She also leads CGAP work on responsible finance. This includes work with the Smart Campaign to develop consensus industry standards for improved client protection, as well as an initiative to ensure that responsible finance considerations are integrated in investor processes. From 1998-2006 Kate directed the Microenterprise Development office at the U.S. Agency for International Development, leading support to USAID overseas programs that invest over $200 million annually in 70+ countries. Kate is a development economist, with a master’s degree from Princeton University.

Dr. Kshama Fernandes
Dr. Fernandes is the CEO of IFMR Capital. Prior to this, she was the head of the Risk Management team at IFMR Capital. She has extensive experience in the capital markets space, and has been previously involved in financial advisory, consulting and academia. Prior to joining IFMR Capital, she was a Professor and Head of Finance at the Goa Institute of Management. She has worked on consulting assignments for the World Bank, the Chicago Mercantile Exchange, the Government of India (Ministry of Finance), and NSE.IT, and was a core committee member of the Percy Mistry Committee on ‘Making Mumbai an International Financial Centre’. She has also developed the SEBI mandated certification programme for derivatives for the National Stock Exchange and NCDEX. Dr. Fernandes holds a Ph.D. in Finance, an MBA, an FRM certification from GARP, and an undergraduate degree in Mathematics.

Mr. M.V. Subramanian
Mr. Subramanian is the President of Rural & Inclusive Banking at Axis Bank.

Ms. Monika Halan
Ms. Halan is the Editor of Mint Money at HT Media. Monika Halan works in the area of financial literacy and financial intermediation policy and is a certified financial planner. Ms. Halan is the Editor of Mint Money at HT Media. Monika Halan works in the area of financial literacy and financial intermediation policy and is a certified financial planner. Formerly, she was the Editor, Outlook Money; Consulting Editor, Indian Express and expert planner on the show “Show me the Money” on NDTV Profit. Ms. Halan has a Bachelor’s Degree in Economics from Shri Ram College of Commerce, Masters’ in Economics from the Delhi School of Economics and a Masters’ in Journalism Studies in the College of Cardiff, University of Wales, UK.

Dr. Nachiket Mor
Dr. Nachiket Mor is the Chairman of the Boards of Sughavazhvu Health Care and CARE India. He is currently also an independent member of a few other Boards, including CRISIL, the IKP Centre for Technologies in Public Health, and the Institute for Financial Management and Research (IFMR). ). He has worked with ICICI from 1987 to 2007 in a variety of jobs, including, Corporate Planning, Project Finance, Rural Finance and Treasury and was a member of its Board of Directors from 2001 to 2007. From October 2007 to August 2010, he assisted ICICI in setting up a philanthropic foundation, the ICICI Foundation for Inclusive Growth and served as its founding President. Nachiket Mor is a Yale World Fellow; has a Ph.D. in Economics from the University of Pennsylvania with a specialization in Finance from the Wharton School; an MBA from the Indian Institute of Management, Ahmadabad; and an undergraduate degree in Physics from the Mumbai University.

Mr. Puneet Gupta
Mr. Gupta is the CEO of IFMR Rural Finance. Prior to this, he served as the CEO of IFMR Mezzanine Finance Pvt. Ltd. Mr. Gupta has been with the IFMR Trust since October 2007, prior to which he worked at the ICICI Bank for a period of 6 years in the areas of education, microfinance and rural finance. He was responsible for identification and development of new channels and products for delivering microfinance and financial services to rural households. He was also involved in developing models for attracting private equity investment in the microfinance sector. Puneet is a commerce graduate with a master’s degree from the Institute of Rural Management, Anand (India).

Dr. Renuka Sane
Dr. Sane is a Research Economist at the Indira Gandhi Institute for Development Research (IGIDR). Her research interests include household finance, pensions, micro-finance, firm financing and public policy. She holds a Bachelors Degree in Statistics from St. Xavier’s College, Mumbai; Masters’ Degree in Economics from University of Mumbai and a Ph.D. in Economics from University of New South Wales, Australia.

Mr. S. G. Anil Kumar
Mr. Anil is the CEO of IFMR Rural Channels and Services where he spearheads the establishment of a nationwide network of region-focussed financial institutions called Kshetriya Gramin Financial Services (KGFS). He has been in the rural banking and microfinance space since 2005, when he served as the head of the Micro Finance Institution Development Team at ICICI Bank which was behind the creation of a footprint of over 200 MFIs across the country for ICICI Bank. Mr. Anil holds a master’s degree in management from the Asian Institute of Management, Manila and a bachelor’s degree from Osmania University, Hyderabad.

Dr. Sankar De
Dr. De is the Clinical Professor and the Executive Director of the Centre for Analytical Finance at the Indian School of Business (ISB), Hyderabad. He teaches Advance Corporate Finance at the Institute. Prior to this, he was Executive Director of the Centre for Professional Development in Finance (CPDF) at University of California, Berkeley, teaching graduate programs at the Haas School of Business. He completed his Ph. D from the same institute, after his MBA at the Indian Institute of Management, Calcutta. Dr. De has also advised several major corporations and government agencies, including the Securities Exchange Board of India (SEBI).

Dr. Santadarshan Sadhu
Dr. Sadhu is the Head of Policy and Research at Centre for Microfinance, IFMR Research. Dr. Sadhu specializes in development economics, macroeconomics, household finance and applied econometrics. He holds a Phd in Economics from the State University of New York at Albany. Before joining CMF, Santadarshan worked as a Senior Economist at Nathan Economic Consulting India, a Chennai based economic consulting firm. He has taught at numerous universities in the United States and in India including the Rochester Institute of Technology, University of Albany and the Madras School of Economics.

Ms. Sucharita Mukherjee
Ms. Mukherjee is a Director on the board of IFMR Capital. She previously served as the CEO of IFMR Capital. She led the origination and structuring effort in credit derivatives and structured finance for corporates at Morgan Stanley in London before she joined IFMR Trust. Her work included developing innovative asset-backed financing structures in such areas as intellectual property and health-care receivables. She was also part of the credit derivatives team at Deutsche Bank in London, structuring credit-derivatives-linked repackaged investments for financial institutions. Sucharita holds an MBA from the Indian Institute of Management, Ahmedabad

Dr. Susan Thomas
Dr. Thomas is currently a faculty member at the Indira Gandhi Institute for Development Research (IGIDR), Bombay. She has also served as a member/chair of various committees constituted by the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI) and the National Stock Exchange (NSE) on secondary markets, government securities and foreign exchange to name a few. She completed her graduate studies in engineering from the Indian Institute of Technology (IIT), Bombay, and her Ph. D in Econometrics from University of Southern California, Los Angeles.

Dr. T. Sabri Öncü
Dr. T. Sabri Öncü is the Head of Research at the Centre for Advanced Financial Research and Learning (CAFRAL), Mumbai, India. He holds a BS and an MS in Mechanical Engineering and a BS in Mathematics from Boğaziçi University, an MS and a PhD in Applied Mathematics from the University of Alberta, and an MA in Business Research from Stanford University. He had been a Research Fellow at the University of California, Berkeley, Mathematics Department from 1993 to 1994, where he took an interest in financial economics. He then had worked at various financial institutions in the US as a “quant” from 1994 to 2006. He had served as a Visiting Assistant Professor of Finance at the New York University Stern School of Business from 2007 to 2010 and, prior to joining CAFRAL, been an Assistant Professor of International Finance at Kadir Has University in Istanbul from 2010 to 2011. Öncü specializes in financial economics, financial econometrics, asset pricing and empirical industrial organization. He has many scientific publications in respected international journals and is a contributor to the recently published NYU, Stern book “Regulating Wall Street”.

Ms. Veena Mankar
Ms. Mankar is the Managing Director of Swadhaar FinServe Pvt Ltd. Ms. Mankar has over 30 years of experience in development and commercial banking, having started her career with the erstwhile finance institution, ICICI Ltd. (now ICICI Bank Ltd.). She has served as an independent consultant to a number of international banks and was the India country representative of WestLB Group, a European commercial bank. In addition, Ms. Mankar was the founding Managing Director of a Non-Banking Finance Company offering factoring, which established itself as India’s largest independent factoring company in just three years under her leadership. Ms. Mankar continues to be a consultant to the Malta-based FIMBank and serves as a Director on the boards of three of FIMBank’s factoring joint ventures, respectively based in India, Dubai and Egypt. Ms. Mankar earned a bachelor’s degree in economics from Lady Shri Ram College in Delhi and an MBA from the Indian Institute of Management, Ahmedabad.

Mr. Venky Natarajan
Mr. Natarajan is a Managing Partner at Lok Capital. He has over fourteen years of experience in product development and venture capital at Intel and has led several equity deals in design software, computing and wireless technology sectors. Mr. Natarajan has acted as operational consultant to various MFIs in India. He holds an MBA from Cornell University and Engineering degree from Annamalai University, Chennai.

Mr. Vimal Balasubramaniam
Vimal Balasubramaniam is pursuing his Ph.D in Financial Economics at the Saϊd Business School, University of Oxford. He was a member of the Macro/Finance Team at the National Institute of Public Finance and Policy, New Delhi where he worked with questions relevant to the macroeconomy and financial sector in India. He holds a Bachelors’ degree in Economics from University of Madras, and a Masters’ in Public Policy from the National University of Singapore. His research interests include international finance, asset pricing, household finance and macro-financial policy

Mr. Vineet Sukumar
Mr. Sukumar is the Head of Origination and Treasury, IFMR Capital. Vineet has 7 years of experience in strategy, corporate finance and investment banking roles in large corporates and in the financial services industry. Prior to IFMR Capital, he worked with Standard Chartered, managing the bank’s largest corporate relationship. Vineet has also worked with the Tata Group in leadership roles across diverse industries. Vineet graduated from IIT Kharagpur and completed his MBA from IIM Bangalore.

Consumer Protection Blog Series

The Theory of Consumer Protection 
The theoretical underpinnings of consumer protection and its relevance to the provision of financial products and services.

Consumer Protection: Recent Developments on the Regulatory Front in Developing Countries 
Interview with Kate McKee of CGAP.

Suitability & Disclosure: The Case of Australia 
Covers conduct and disclosure obligations of Australian Financial Services (AFS) License holders for provision of advice to retail clients.

Evolution of Consumer Protection Laws in India - Part 1 
The historical evolution of the various sources of consumers’ rights in India today.

Treating Customers Fairly in South Africa 
‘Treating Customers Fairly’ (TCF) initiative which is being implemented in South Africa to ensure stronger market conduct regulation.

To read our complete blog series on Consumer Protection click here