Home / Knowledge / News / Textiles / Textile industry extends support for cashless economy
Textile industry extends support for cashless economy
16
Dec '16
The textile industry has expressed solidarity with the Centre’s goal to promote India as a cashless economy. Supporting the decision, representatives of the textile industry across the country are encouraging the workers to open bank accounts. As a result, salary payment will be done either through cheque or directly into their bank account.

A majority of the workforce has already opened bank accounts, while others are in the process, said the representatives of the textile industry.

“The move to go digital is a good initiative by the government. However, it will take time for the workers to get accustomed to the new process. In Tamil Nadu, more than 60 per cent of the workers associated with the spinning industry already have bank account,” Prabhu Damodaran, secretary of Indian Texpreneurs Federation told Fibre2Fashion.

Welcoming the move, he added, “The workers are putting in efforts to understand and learn the functioning of banking and digital system. We have also been organising demonstration programmes for the workers.”

“It will not be feasible for the workers to travel far to withdraw cash as majority of the textile industries are located on the outskirts, so we will be urging the government to install ATM kiosks in the premises itself,” said Damodaran.

“Digitisation of payments will help in maintaining transparency. We are still in the course of opening bank accounts of the textile workers. Since many workers do not have a valid identity proof, the process is getting delayed. We are also helping the workers to download digital payment transfer applications on their cell phones,” said Jitendra Vakharia, president of Federation of South Gujarat Textile Processing Association.

“This measure by the government will not only help in curbing corruption but will also ensure that the workers are getting their dues. It will also increase the scope of investment. They can withdraw money directly from the bank or from ATM,” said Dilip Patel, president of All Gujarat Ginners’ Association. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search