DISCLAIMER It has come to our notice that an application listed on Google Play Store called “Coin track Loan-online Loan” is misusing our Corporate name and fraudulently referring to Prayas Financial Services Private Limited (Prayas) as one of their “Primary NBFC Partners”. We would like to clarify and Inform the public at large that Prayas has no association whatsoever with Coin track Loan or any entities or persons connected therewith. We recommend you exercise caution when dealing with these entities and doing so will be at your own risk.

About Us

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.

Vision and Mission

Vision

Our Vision is to build a society 'where citizens have equal and sufficient economic and social opportunities to improve their standard of living, and where they can contribute productively towards the overall development of the country'.

Mission

Our Mission is to promote the general well-being of the poor women in the provinces and transform these provinces into self-reliant, self-managing, just and peaceful living communities.

Board of Directors

Products

Our lending ethos focuses on promoting income-generating activities, thereby empowering individuals and informal enterprises to embark on their entrepreneurial journeys and enhance their economic prospects. We provide loans to our valued members for starting new economic activity or for enhancing the capacity of the existing income generating activity. Our focus is primarily on women and microfinance graduates located primarily in small towns and villages in the north and western part of India. We also bundle credit life insurance to provide financial protection from untimely demise of member or co-borrower. Our loans are currently priced at a minimum, average, maximum ROI of 28% p.a. on a reducing balance method.

Our Partners

Success Stories

Kokila Ben Satish

Kokilaben is a resident of Mandor village in Gujarat. Her husband was working as a labourer in open market and she was staying home involved in daily household chores. For daily household essentials like rice, aata, spices, etc, she had to walk to other side of the village, as there was only one Kirana store in the village. And she got an idea to start a small store to cater daily needs of the residents in and around her mohalla. This seemed a tough task because they did not have enough money to buy materials and were feeling helpless. A nearby group had availed loan from Prayas and they informed Kokilaben about availing a loan to start the store their life also becomes easy. 

She approached Prayas Finance and availed a loan of ₹20,000 to start the store. Slowly and steadily, their shop started running well so now they had two sources of income husband going for labour and she running the shop. In the two years that followed, with the help of immediate funding from Prayas, they had added all required items to fulfil needs of all the members. 

Subsequently, she approached Prayas for a loan of ₹70,000 to buy a second-hand auto rickshaw to run by her husband to get more stable income. Prayas advised her to utilize some of the family savings and avail a loan for the balance. KokilaBen put in ₹20,000 from the household savings and borrowed a lower amount of ₹50,000. Now her husband runs the auto rickshaw in nearby areas earning a reasonable income that has vastly enhanced the family income. The auto also helps them in transporting purchases to their shop, which has helped save on logistic costs. The family feels highly indebted to Prayas for the timely credit that the company extended as and when required which can be seen in their eyes while our interaction. The company wishes the family all the best.

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Varsha Bhuriya

My name is Varsha Bhuriya. Before, I, as a daily wage worker, used to go to the nearby market where I used to find work for a few days. I own farmland. I applied for a group loan from Prayas for cultivating flowers in my field. I was enrolled in the Pasio program by Prayas Finance. Through the program I got to know about how to do farming well, how to sell crops, how to know the price of the harvest, etc. I began selling the flowers to a local trader because of the learnings that I got through the program. Then, I realized that I could get a better price if I added value to the harvest. Hence, I began preparing garlands out of the flowers at my home. I used to sell it in the nearby market. I earn a daily income of Rs. 200 to 300 through this business. I could see a positive change in my business because of the Pasio program. I am thankful to the Pasio Community for giving me information about agriculture through mobile only. 

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Contact us

Feel free to reach us anytime we will be more than happy to help you always

Location:

Corporate Office: 806-808, 8th Floor, Tower A, Emaar Digital Greens, Sector-61, Gurugram- 122102, Haryana, India.


Registered Office: 903, 9th Floor, Sakar- IX, Besides old RBI, Ashram Road, Ahmedabad -380009, Gujarat.

Email:

care@prayasfinance.com

Call:

0124-4002821

Open Hours:

Mon-Sat: 9:30 am to 6:30 pm

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