Home / Knowledge / News / Textiles / Textile industry extends support for cashless economy
Textile industry extends support for cashless economy
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

Interviews View All

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Kuldeep Pareek,

Kuldeep Pareek

Italian company Schoch Reeds has been producing high-quality weaving reeds ...

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pierre Wiertz, EDANA

Pierre Wiertz

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

November 2019

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

Follow us on instagram


Follow Fibre2Fashion On

Follow Fibre2Fashion On

Advanced Search