India : Textiles ministry sets up camps to open bank accounts

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Home / Knowledge / News / Textiles / Textiles ministry sets up camps to open bank accounts

Textiles ministry sets up camps to open bank accounts

03
Dec '16

Regional office of the textile commissioner in Ahmedabad, Ministry of Textiles, has organised camps for opening bank accounts of workers in the sector to facilitate cashless payment following demonetisation. The camps are being set up with the help of industry association and banks in major locations where the textile industry is essentially concentrated.

Workers in the textile and apparel industry have always been paid wages in cash. The liquidity crunch in the country following the demonetisation of high currency has compelled the industry to consider cashless payment of wages.

The regional office of the textile commissioner has also urged workers to approach banks or visit the camps to open their accounts to make the transition to cashless transaction mode.

The labour and employment ministry has announced that 9,15,431 bank accounts were opened by organising 33,145 camps across the country. The ministry launched the campaign for opening bank accounts especially for workers in the unorganised sectors.

“The objective of the campaign is to ensure that all workers come into banking fold and their wages are paid directly into their account. This will not only prevent exploitation of workers and payment of wages without cut but will also inculcate the habit of using cashless transactions,” said the labour and employment ministry in an official statement. (KD)

Fibre2Fashion News Desk – India

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