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..
- The scheme leverages the outreach of Partner Institutions such as MFIs/ SHPIs/ NBFCs/ Fintechs etc. to extend affordable finance between ₹0.50 lakh to ₹5 lakh to budding micro-entrepreneurs.
- As on March 31, 2021, under PRAYAAS , ₹172.21 crore was sanctioned to approximately 14,260 micro entrepreneurs/ borrowers.
- Aggregate disbursement stood at ₹128.02 crore, to 10,986 micro entrepreneurs/ borrowers.
- Outstanding under the scheme stood at ₹64.49 crore, as on March 31, 2021.
- 88% beneficiaries are from rural areas and 88% is to women entrepreneurs.
