Reaffirming its commitment towards women empowerment, SIDBI celebrated the International Women’s Day with the women entrepreneurs assisted under its PRAYAAS initiative through its partnership with SKDRDP at Shri Kshetra, Dharamsthala. On the occasion, Shri Sivasubramanian Ramann, Chairman & Managing Director, SIDBI, formally released a book “Amrutha Jeevana Prayaas Sinchana” in the presence of Dr. Veerendra Heggade, Dharmadhikari, SKDRDP, Smt Hemavathi Heggade, President, Jnanavikasa Program, Dharmasthala, Shri Ravi Tyagi, CGM, SIDBI andDr. L. H. Manjunath, Executive Director, SKDRDP.
CMD Shri S. Ramann, during his inaugural address mentioned “SIDBI’s mission through PRAYAAS is to connect the micro segment entrepreneurs digitally and serve the ‘missing middle’ segment by making available affordable credit. The program has a focus on women who we believe are the key pillars in the development of economy and in instilling entrepreneurship in the future generations. Under PRAYAAS, SIDBI looks for development centric partnerships in unserved and under-served segments for fostering the spirit of self-reliance and augmenting enterprise promotion.
I salute the beneficiaries featured in the book who are the true representatives of grit, determination, and embodiment of independence of entrepreneurship. I am sure that their success will inspire many more women to dream and set up more ambitious ventures.”
Earlier during the day, Shri S. Ramann handed over sanction letter of Rs.1000 crore to Dr. L. H. Manjunath, Executive Director, SKDRDP, under SIDBI’s PRAYAAS Scheme for Direct Credit to Micro Enterprises under partnership arrangements. The PRAYAAS Scheme has been formulated to help microfinance clients who look forward to upscale / diversify their business and need assistance in the range of `50,000 to `5 lakh, commonly known as “Missing Middle Segment”. The scheme aims to significantly improve access to finance as well as reduce interest rate to aspiring borrowers and help in enterprise promotion.
Shri Kshethra Dharmasthala Rural Development Project, popularly known as SKDRDP, is a charitable trust promoted by Dr. Veerendra Heggade. SKDRDP concentrates on the empowerment of people by organizing Self-help Groups (SHGs) on the lines of Joint Liability Groups (JLGs) and provides infrastructure and finance through micro credit for the rural people. SKDRDP works as Banking Business Correspondent and Business Facilitator (BC and BF) in all the areas of its operation.
Small Industries Development Bank of India (SIDBI) as the Principal Development Finance Institution for MSME sector has played a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilateral institutions like World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc. for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth, and competitiveness in long run during prevailing climate related challenges.