Mumbai: Small Industries Development Bank of India (SIDBI) through its Prayaas Programme, in partnership with financial and non-financial intermediaries provides financial assistance upto `5 lakh at an affordable rate to the entrepreneurs at Bottom of the Pyramid. Till date, an amount of `276 crore plus has been disbursed under the scheme to benefit more than 18000 small entrepreneurs who are at sustenance level and aspire to reach an enterprise level.
Shri Kshethra Dharmasthala Rural Development Project BC Trust” (SKDRDP), a charitable trust, operating in the States of Karnataka and Kerela has partnered with SIDBI for taking the Prayaas Initiative forward.
Shri V Satya Venkata Rao, Deputy Managing Director, during his visit to SKDRDP at Dharmasthala met Honorable Dr. D. Veerendra Heggade, President, SKDRDP along with other officials and assessed the overall performance and impact of the Prayaas Scheme. It was very encouraging to note that this partnership has benefitted 3500 plus micro entrepreneurs and aims to bring many more in its fold in coming years to meet the financing gap in this space.
Shri Rao, DMD, SIDBI said that Prayaas is an “Impact Program” of the Bank launched with the objective to improve livelihood opportunities for the borrowers at a low-cost capital and the Bank would continuously work in this direction.