MUMBAI, India, May 29 -- Intellectual Property India has published a patent application (202641062352 A) filed by Ms. Anitha Veeramani; and Ms. Sai Pranathi Pissey Venkata, Bangalore, Karnataka, on May 16, for 'block chain - based transparent microfinance management system for rural economies.'
Inventor(s) include Ms. Anitha Veeramani; and Ms. Sai Pranathi Pissey Venkata.
The application for the patent was published on May 29, under issue no. 22/2026.
According to the abstract released by the Intellectual Property India: "The present invention relates to a blockchain-based transparent microfinance management system specifically designed for rural economies to enhance financial inclusion, transaction transparency, loan accessibility, fraud prevention, and decentralized financial governance. The proposed system integrates blockchain technology, smart contracts, distributed ledger mechanisms, mobile banking interfaces, digital identity verification, and real-time analytics to create a secure and tamper-resistant microfinance ecosystem capable of supporting rural borrowers, self-help groups, cooperatives, farmers, and small-scale entrepreneurs. The system enables transparent loan application processing, automated credit evaluation, decentralized fund disbursement, repayment tracking, and interest calculation through programmable smart contracts executed on a blockchain network. The immutable ledger architecture ensures that all financial transactions, borrower records, repayment histories, subsidy distributions, and lending activities are securely recorded and cannot be altered or manipulated by unauthorized entities. The invention further incorporates biometric authentication, mobile wallet integration, multilingual user interfaces, and offline transaction synchronization mechanisms to improve accessibility in remote rural areas with limited internet connectivity."
Disclaimer: Curated by HT Syndication.
