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ESAF creates impact through paperless initiatives

June 05, 2023

ESAF creates impact through paperless initiatives
ESAF Small Finance Bank, one of the leading small finance banks in India, has crossed another milestone in its digital journey with the successful adoption of e-signature for micro loan disbursals. As on March 31, 2023 (Fiscal Year 2022-23), ESAF Bank has disbursed over 5.27 lakh loans through e-signatures, showcasing ESAF Bank’s commitment to digital transformation. 

As per various online reports, approximately 10,000 trees are required to produce one tonne of paper. Through the adoption of e-signatures, ESAF Bank has effectively saved reams of paper, which would have been utilised for the purpose of loan disbursement, documentation involving handwritten signatures, thereby reducing deforestation. 
 
Moreover, water productivity associated with paper production is notable, with 2,700 litres of water required to manufacture one tonne of paper. By reducing paper dependency, ESAF Bank has conserved a large quantity of water which would have been required for producing the paper.
 
ESAF Bank currently has a customer base of 65 lakh customers and a transition of 60% of its micro banking customers to using e-signatures, approximately 25 lakh micro banking loans, would have a positive impact on the environment through conservation of natural resources and reduction of carbon footprint. This initiative is in furtherance to the triple bottom line of ESAF Bank, especially when the relevance of environmental concerns is more visible with each passing year.
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