Abstract

Microfinance emerges as a pivotal catalyst within India's micro, medium, and small-scale industries. A notable exemplar is the SIDBI-PRAYAAS initiative, under the auspices of SIDBI, strategically engineered to empower the lower echelons of the financial pyramid. The latest study unveils a compelling triumph, spotlighting an impressive 6.02% Compound Annual Growth Rate (CAGR) surge in the commercial ventures of beneficiaries who availed themselves of this pioneering scheme. In this context, the infusion of digital mechanisms, including B-POS and B-Bank, has admirably streamlined the application, disbursement, and meticulous execution of loan reimbursements. The efficacy of these interventions reverberates triumphantly. Notably, the synergy of the Patanjali Ayurved Limited collaboration has further amplified the scheme's resonance, as eager borrowers harness its potential to nurture the expansion of Gramin Arogya Kendra. Considering these advancements, the current case study stands as a compelling testament to the efficacy of the PRAYAAS schemes, seamlessly interwoven with the digital dexterity of contemporary banking paradigms. This holistic approach underscores not only the scheme's operational prowess but also engenders profound customer gratification, thus forging a harmonious synthesis of financial inclusion and technological ingenuity.