From less than half a percent of transactions in the electronic mode in 2001, today we process close to about 30 crore transactions per year in the electronic mode.
With CSF, entrepreneurs gain access to bank loans even without collaterals. Before CSF, financially-challenged entrepreneurs source funds from informal lenders at very high interest rates. CSF is also a positive for banks. Even without collaterals, bank loans made under CSF are effectively insured against default by the surety fund set up jointly by the LGUs and other partner organizations.