Prime Minister Narendra Modi, recently launched a cashless/less cash township model, developed by Gujarat Narmada Valley Fertilisers and Chemicals Ltd (GNFC), across 81 townships in 12 states.
The 81 townships included 56 in Gujarat and 25 in other states that have chosen to follow the cashless or less cash model. GNFC facilitated the model across these states under the auspices of National Institution for Transforming India Aayog, said Rajiv Kumar Gupta, Managing Director, GNFC.
National Institution for Transforming India Aayog appreciated GNFC’s initiative and model of cashless townships and advised the Central ministries and CMDs of 300-plus central PSUs for adopting this model quickly.
The 81 townships include those of central public sector companies such as ONGC, Indian Oil, NTPC, SAIL, BHEL, NMDC, CRPF, BSF and Police Lines and private sector townships like Reliance, Essar, Adani, Aditya Birla, Welspun spread across 12 states, including Delhi, Gujarat, Uttar Pradesh, Madhya Pradesh, Maharashtra, Bihar and Chhattisgarh.
Gupta added, “Trends that have emerged from PwC’s study on Impact Assessment of GNFC’s cashless initiative clearly show that going cashless is a step in the right direction for our country due to the significant socio-economic benefits. This initiative offers financial inclusion, cashlessness as a lifestyle, better parental control, women’s empowerment and social upliftment using technology.”