bKash customers have taken 'digital nano loan' amounting  Tk7 billion from City Bank using the bKash app since the loan facility was commercially launched in 2021.
 The loan product was launched as part of a joint initiative of bKash and City Bank as part of enhancing the digital transaction ecosystem in the country, said a press release.
Till now, over 245,000 bKash customers have availed this collateral-free 'nano loan'. Many of these customers have taken this hassle-free, instant and affordable loan multiple times.
 The main objective of launching this digital loan is to accelerate financial inclusion of the country's underprivileged population, especially women and people living in rural areas by ensuring their access to credit. As of 2023, 24% of these customers are women and 55% of the total borrowers live in rural areas.
As per the central bank's directives, bKash customers who have completed e-KYC through the biometric system and using bKash app are considered eligible for this loan from City Bank.
 Based on the customer's transaction in bKash account and City Bank's credit risk management policy, the customer's loan eligibility and loan amount are determined through an automatic credit assessment system.
 The eligible customers can instantly get the 'nano loan' ranging from Tk500 to Tk20,000 from the City Bank with just a few taps. To avail this loan, customers don't need to go to any office or sign any document; they don't even need a nominee or guarantor for the loan.
 About the loan product, City Bank's head of retail banking Arup Haider said, "Through traditional methods, we managed to disburse just 0.3 million loans in 15 years, whereas, the nano loan count reached 0.7 million in less than two years. It is a matter of great joy and pride for us."
Meanwhile, Ali Ahmmed, chief commercial officer (CCO) of bKash said, "City Bank's collateral-free loan, which can be taken and repayable through the bKash app, is a revolutionary addition to the scenario of financial inclusion in the country...Though the limit of the loan is just Tk 20,000, we are working to gradually raise ceiling of the loan in near future".