Introduction JanAushadhi Kendra:
The JanAushadhi Kendra is a digital lending platform dedicated to making credit more accessible to 10,000 JanAushadi Kendras established as part of the Pradhan Mantri Bhartiya Janaushadhi Pariyojana. It is a loan marketplace that enables JAKs to compare loan offers from multiple lenders and choose the one most suited to their business requirements.
Challenges for JanAushadhi Kendra
- Lack of capital required to run and expand these kendras.
- Difficulty availing short-term working capital loans as well as long term business loans.
- One time loan in addition to long turnaround time.
- Several visits to different banks to compare loan offers and select the best one.
- Loan monitoring and repayment required frequent visits to the banks.
Solution
An end-to-end digital product with no manual intervention. It is a one-stop solution for all the credit needs of JAKs. It acts as a loan marketplace enabling them to compare loan offers from multiple lenders and choose the one most suited to their business requirements.
The platform is fully integrated with the majority of the account aggregators and bureaus, to fetch bank statements and other crucial data for faster and more informed decision-making.
The infrastructure also connects all the JAK to a single IT (Information Technology) enabled system (SAP) to ensure monitoring at every step in the process.
Benefits to JanAushadhi Kendras
- Faster and smoother processing of Store’s journey to enhance the User Experience.
- Sahay ecosystem – Enables stores to avail funds at a competitive rate.
- Real Time Dashboard to monitor the Applications.
- Digital lending ecosystem- Enables faster turnaround time and efficient fund availment.