image
Essar township in Gujarat goes totally cashless
Hazira (Surat), Mar 17 (IBNS): Nand Niketan Township became the first private sector township to go cashless, announced Essar on Friday.
Essar said that the milestone was achieved by its Nand Niketan Township through the use of The Mobile Wallet (TMW), a Mumbai-based financial technology company.
Ralph Sunil, VP-Administration & CSR, Essar Steel said, “All Essar employees now get a nominal part of their salary as a credit into their TMW wallets. The collector’s office in Surat has personally appreciated our efforts in making digital payments a way of life in the Township.”
The Wallet is powered by RBL Bank Ltd.
TMW single-handedly worked on this project and converted Essar’s Nand Niketan Township into a cashless township.
The pilot project involved the adoption of TMW’s twin offering—the smartphone-based TMW app and the Mastercard-enabled TMW and RBL Bank co-branded Prepaid Card, which, according to the company, has almost universal acceptance at all outlets and billers that accept Mastercard in India.
Said Rishi Kalantri, Head–Cashless Townships, TMW, “We started the pilot project at Hazira in December 2016—almost immediately after the PM launched the demonetisation drive. In the initial phase, we conducted a series of workshops for various user groups, with an eye on addressing their unique requirements. This helped in easing the adoption process and made the transition to a cashless ecosystem sustainable.”
While the TMW app has had more than 12,000 downloads, over 8,000 TMW-RBL Bank Prepaid cards have been issued to a wide range of users in Surat, including Essar employees and their families residing in the Hazira Township, merchants and shop owners operating within its precincts, as well as contract labourers working in various Essar facilities.
An average of Rs 2 lakh worth of digital transactions are being executed every day, the company said.
Top Headlines
-
News
PE firm TA Associates' strategic investment in VeeHealthtek
November 19, 2024
-
News
Manipur unrest: Civil society sets 24-hr deadline for BJP MLAs to take 'decisive action'
November 19, 2024
-
News
Delhi chokes as air quality remains in 'severe plus' category amid curb on several daily activities
November 19, 2024
-
News
Keir Starmer meets Narendra Modi in Brazil, announces relaunch of UK-India free trade agreement talks
November 19, 2024
-
News
Tirumala trust asks non-Hindu staffers to retire or opt for transfer
November 19, 2024
-
News
Manipur's unabated violence kills 1 more in Jiribam, Amit Shah schedules meeting today
November 18, 2024
-
News
Former Delhi minister Kailash Gahlot joins BJP a day after quitting AAP
November 18, 2024
-
News
Delhi records season's worst AQI, train and flight services hit, schools shifted to online mode
November 18, 2024
-
News
Bengal: 17 arrested in clashes between two groups in Murshidabad's Beldanga over Kartik Puja pandal row
November 18, 2024
-
News
DRDO conducts successful flight-trial of first long-range hypersonic missile
November 17, 2024