Handling cash is an expensive proposition. Samunnati, therefore has designed its operations to be cashless from day one. Samunnati disburses the loans directly into the customer‘s bank account. Where customers do not have bank accounts, Samunnati encourages them to to open savings banks accounts and disburses loan amounts directly into these accounts using NEFT or IMPS.
The loan repayments are collected through direct debit to customer‘s account using NACH facility of NPCI or are collected under the cash flow trapping mechanism where the buyer or aggregator of the agri produce deducts the loan repayment from the produce sale amount and deposits it directly in the customer‘s loan account with Samunnati.
This has helped Samunnati completely avoid costs of cash management (cash in transit cost, cash movement insurance, cost of safety equipment like cameras, safe etc, cost of managing fake notes), including the inconvenience of reconciling cash at multiple branches every day. This also reduces the opportunities for frauds at front-end.