Prayas Financial

About company

Prayas Financial Services Pvt Ltd (PFSPL) is a Private Company registered with the Reserve Bank of India (RBI) as a Non-Banking Finance Company, specifically as NBFC MFI, commencing its operations on February 6, 2020. Established on March 3, 2017, PFSPL is dedicated to empowering financially underserved households and informal micro-enterprises by providing them with financial products and services to attain self-sufficiency. PFSPL is a subsidiary of Ananya Finance for Inclusive Growth Private Limited (Ananya), which is a registered NBFC with RBI. Ananya is a well-reputed organisation with track record of more than a decade in promoting financial inclusion with focus on underserved MSMEs and low income households. Ananya acquired a majority stake in PFSPL in June 2022 after obtaining prior approvals from RBI.

PFSPL is furthering the developmental agenda of Ananya by operating with the objective of uplifting the socio-economic conditions of low-income populations, enabling them to overcome financial challenges and improve their quality of life. By facilitating access to credit and other financial tools, we aim to foster entrepreneurship, encourage livelihood development, and promote sustainable economic growth among underserved communities. Our focus is on promoting income-generating activities, thereby fostering small businesses like tea stalls, grocery stores, beauty parlours, welding units, repair shops, fruit, and vegetable vendors, as well as agricultural and allied ventures.

A fully automated end to end technology stack has been adopted in order to streamline the customer journey, enhance operational effectiveness and improve the customer & employee experience. The entire operations are digitised with completely paperless processing of the loan applications. An inhouse proprietary BRE has been developed which has enabled automated decisioning of bureau results. The trifecta of Aadhar-Bank Account-UPI has been seamlessly integrated into the operational delivery process. The technology stack deployed consists of a mix of external vendors and in-house development.

PFSPL has become a trusted partner for low-income households and micro-enterprises seeking opportunities for growth and financial stability. The organization is driven by a strong social mission, embodying the belief that access to financial resources and services can be a catalyst for positive change. We aim to empower women to build sustainable livelihoods and achieve economic independence. With its blend of compassionate financial services, dedication to social impact, and a well-established presence in rural areas, PFSPL is committed to playing a pivotal role in fostering financial inclusion and empowering underserved communities. The company currently serves clients through its network of branches spread across Gujarat, Rajasthan, Madhya Pradesh and Uttar Pradesh.

Company InfoAddress:Unit No. DG-A-08-006, DG-A-08-007, DG-A-08-008, Emaar digital greens, Sector 61, Bhondsi, Gurugram, Haryana, GURGAON, Haryana, India