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Micro-Credit and Income-Generation Programme (IGP)

Prayas Juvenile Aid Centre came into being in 1989 after a devastating fire broke out in jhuggis of Jahangirpuri area of North Delhi. Prayas is a national level NGO having operation 8 States/UTs of India. From children activities and home to alternative education to vocational training, Prayas is involved in all sorts of activities which are considered as panacea for socio economic development of community. Having served almost two decades, Prayas used to get demand of credit as well from the community.Keeping need of community in view, Prayas ventured into Micro Credit and Income-Generation program business in January, 2007. So far, Prayas has disbursed Rs. 4.66 crore among 2814 beneficiaries. Prayas fulfill the credit need of community through SHG’s and JLG’s . Prayas is having micro finance operation in Delhi and Bihar.

Prayas micro-credit is assumed to be provided for income generation activities of women SHG members. However, impact assessment study needs to be carried out to validate the assumption. This Schemes aimed at enabling income generation activities for poor women and multipurpose Credit - for emergencies or consumption needs. The poverty alleviation program aims to get the poorest of the poor engaged in income generation so as to enable them to lift themselves out of poverty.

The Enterprise Development program which is aimed at enabling women who are ready to graduate from basic income generation to operating a business or enterprise. The women in this program are assigned a business mentor and receive more substantive business skills training provided by the Business Skills program. The program provides loans for villages of between R5000 to R10000 and awareness camps for issues other than income generation activities (health, sanitation, education etc).

Apart from micro credit work, Prayas also involve in micro saving and working as business correspondent model of ICICI Bank and YES Bank. In August, 2009, RBI recognized Prayas as one of the best Business Correspondent model working in Delhi.“Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services.” Microfinance is not just about giving micro credit to the poor rather it is an economic development tool whose objective is to assist poor to work their way out of poverty. It covers a wide range of services like credit, savings, insurance, remittance and also non-financial services like training, counseling etc.