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Janalakshmi Financial Services appoints Narayan Ramachandran as Director

Bangalore, Thursday, 4th March 2010

Janalakshmi Financial Services, a unique social business venture that is focused on financial inclusion for the urban poor, has appointed Narayan Ramachandran as a Director on the board of Janalakshmi Financial Services (JFS). The company also stated that Mr Ramachandran would be taking a minority equity stake in its next round of capital raising.

A veteran of the financial services sector with over 20 years of experience, Mr. Ramachandran was until recently Managing Director & Country Head of Morgan Stanley in India. Prior to these roles, Mr. Ramachandran was the Head and lead portfolio manager of Morgan Stanley's Global Emerging Markets and Global Asset Allocation teams, managing over $25 billion in assets. He began his career at Goldman Sachs. He received a B.Tech. in chemical engineering from the Indian Institute of Technology Bombay, an M.B.A. from the University of Michigan and is a Chartered Financial Analyst.

Mr. Ramachandran has now turned his attention to become an investor and entrepreneur with a focus on social businesses. He has a keen interest in using market-based solutions for poverty alleviation in areas such as micro-finance, social venture capital, micro-insurance and affordable housing.

Announcing the induction of Mr. Ramachandran as Director, Mr. Ramesh Ramanathan, Chairman, Janalakshmi Financial Services, said, "We are delighted that Narayan has chosen to join the board of Janalakshmi, and his added decision to invest in us is a sign of confidence in our business model. We look forward to benefiting from his vast experience in implementing our ambitious agenda for financial inclusion of the urban poor."

On his decision to join Janalakshmi's board and also invest in Janalakshmi's upcoming round of capital raising, Mr. Narayan Ramachandran said, "It is a pleasure and privilege to join hands with Janalakshmi as it sets about broadening its financial platform to serve the underserved. I look forward to learning from this challenging opportunity and to making a meaningful contribution.

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