MFIN elected Nambiar for the position at its sixth annual general meeting Tuesday, replacing Ujjivan Financial Services chief executive officer and managing director Samit Ghosh.
Nambiar is also a director on the boards of IntelleCash Microfinance Network Company.
R Baskar Babu, chief executive officer of Suryoday Micro Finance was elected as the vice-president.
MFIN member companies are doing business in 488 districts across states, covering three-fourth of India's 604 districts.
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