India : Indian textile hubs adopt cashless payment modes

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Home / Knowledge / News / Textiles / Indian textile hubs adopt cashless payment modes

Indian textile hubs adopt cashless payment modes

10
Dec '16

The textile ministry is promoting cashless payment within the industry by encouraging textile workers, artisans and weavers to open bank accounts following the demonetisation of high currency notes. More than 5 lakh workers have opened their accounts in the last 10 days, and a large number of them belong to textile hubs like Tirupur, Bhiwandi and Surat.

About 2.2 lakh accounts belong to weavers, while close to 2.75 employees of the jute industry opened their accounts, according to a leading daily.

Textile commissioner Kavita Gupta said that the ministry aims to bring all textiles workers in India within the banking fold and enable them to use digital payment transfer apps in the next three months. She also said that the government has requested all textile associations to make efforts for promoting cashless transactions within the industry.

The government has urged textile units to go cashless on a priority basis by opening accounts and using unified payments interface (UPI). The ministry of textiles also set up over 900 camps across the country to open bank accounts. (KD)

Fibre2Fashion News Desk – India

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