Micro Lending / The Missing Middle
The Bank launched the PRAYAAS scheme to facilitate enterprise promotion and to bring down the cost of credit to borrowers at the bottom of the pyramid.
Under the PRAYAAS Scheme, Bank had sanctioned limits to 13 PIs [Financial Intermediaries including Fintechs = 11; Non-Financial Intermediaries = 2] out of which the operations with 10 PIs is under progress while the sanctioned limit in respect of other 3 PIs have since been expired.
Status of Operations as on March 31, 2022
An aggregate sanction of ₹ 417.70 crore was effected covering 27,343 beneficiaries and aggregate disbursement of ₹ 342.25 crore was effected to 21,529 beneficiaries. Out of the total disbursed cases under PRAYAAS, approx. 88% beneficiaries are from rural areas.
Fund of Funds
