Related Keywords: ATM, cash crunch, cash less trading activity, cashless business transactions, FOSTTA, installing swipe machines, launched drive to digitize industry, Post demonetization, recession, Textile Industry, textile procession association, textile traders association
Post demonetization, the textile industry has launched a drive to digitize the industry in the pretext of the closure of many textile units after the Government’s financial move. Due to the cash crunch and also recession in the textile industry, both the textile traders association and textile procession association had started working on a plan to deal with the situation.
The textile industry has planned to install swipe machines at thousands of textile trading shops, while owners of textile processing units have started opening bank accounts for their workers to beat the cash crunch.
