Mon, Feb 27, 2017 | updated 07:32 AM IST

Amul milk producers make necessary arrangements for cashless transactions

Updated: Nov 22, 2016 12:25 IST

New Delhi [India], Nov 22 (ANI): Chairman, GCMMF (AMUL) Jethabhai Patel has announced that in view of the demonetization of currency notes by Central Government, the company has made necessary arrangement to pay milk producer members for their milk price through direct credit in their bank account.

He further informed that 60 percent of milk producers already have bank accounts, but, due to some vested interests, the payment was made in cash.

"We are in the process of opening of the bank account for milk producers who do not have their bank account. There has been a constant stress for the need to go for cashless transactions for the last couple of years," said Jethabhai Patel.

He also informed that GCMMF (AMUL) and its 18 associated milk unions are paying around Rs. 450 crore on weekly basis to 36 lakh milk producers through 18,500 milk cooperatives in Gujarat.

He has also informed that due to demonetization of currency notes and restriction by RBI on District Cooperative Banks, rural milk producers are facing shortage of cash.

However, Central and State Governments have made alternative arrangement with the help of RBI for cash disbursement through District Cooperative Banks to milk producers to protect their interest which will definitely help milk producers to meet their daily expenses related to animal husbandry and other requirements.

Jethabhai Patel has also emphasized that till date, there has been no impact of demonetization of currency notes on milk procurement and sale of milk in the market. In fact, milk procurement of member unions of GCMMF has increased. (ANI)

New Delhi [India], Feb. 26 (ANI): North India Sotheby's International Realty organised its first ever Global Luxury Realty Conclave in association with the Confederation of Indian Industry (CII) yesterday.

Full Story >>

New Delhi [India], Feb 25 (ANI): India Inc's salary hikes in 2017 are projected to be at an eight-year low as per a survey by Aon Hewitt, which noted that the average pay hikes will be 9.5 percent across industries.

Full Story >>

New Delhi [India], Feb 25 (ANI): Talking about the performance of the Bharat Interface for Money (BHIM) app of the government, Niti Aayog CEO Amitabh Kant said that the app has successfully recorded 17 million downloads so far, which is a world record in itself.

Full Story >>

New Delhi [India], Feb. 25 (ANI): Expressing concern over a lukewarm response on allowing small and medium scale shop-keepers to remain open for all seven days, ASSOCHAM persisted to the Centre to persuade states to approve and adopt the Shops and Establishments Bill draft, in order to promote retail trade in the country.

Full Story >>

New Delhi [India], Feb 25 (ANI-NewsVoir): PHD Chamber organized a unique first of its kind PHD Golf Tourism Conclave and Golf Tournament 2017 on February 24-25, 2017 in Pune with a focus on making India a favored Golfing Destination in the world.

Full Story >>

New Delhi [India], Feb. 25 (ANI): A few months ahead of the incorporation of the much-awaited Goods and Services Tax (GST), Chief Economic Advisor Arvind Subramanian revealed that internal trade has drastically improved; this being a boon to the country's progress in the wake of GST.

Full Story >>

New Delhi [India], Feb. 25 (ANI): According to a survey conducted by online citizen-engaging platform LocalCircles, over 90 percent participants have stated that the Maximum Retail Price (MRP) of medical instruments, particularly stents and orthopaedic implants, should be printed on the device itself. Additionally, citizens have demanded that all such medical devices must be brought under Packaged Commodity Rules at the earliest

Full Story >>

New Delhi [India], Feb 24 (ANI): Enforcement Directorate on Friday issued show cause notice dated February 16, 2017 to CC Thampi and his three companies including Holiday City Centre, Holiday Properties, and Holiday Bekal Resorts Pvt. Ltd respectively for contravention of provisions of section 6 (3) (b), 6(3)(e), 6(3)(f), 6(3)(i) read with Section 47(3) and Section 6(6) of Foreign Exchange Management Act,1999 for the aggregate amount of Rs. 288 crore.

Full Story >>

New Delhi [India], Feb 24 (ANI-BusinessWireIndia): As the saying goes, "there are no free lunches in the world" yet here is an organisation that proposes to do just that for you. The story of a social initiative in Odisha that aims to encourage and motivate digital transformation of an entire nation.

Full Story >>

London [United Kingdom], Feb.24 (ANI): The third Indo-UK Thought Leadership Awards took place on February 22. Awards were presented to individuals from India and the UK who have been contributing to strengthening bilateral relations between India and the UK.

Full Story >>

New Delhi [India], Feb. 24 (ANI): Businesses in Mexico, China and India are increasingly turning to technology to power successful growth, reveals new global research by Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth.

Full Story >>

New Delhi [India], Feb 24 (ANI-NewsVoir): MAX the country's largest International fashion brand, recently launched the third edition of MAX Design Awards. After receiving tremendous response from across, over the last two years, MAX is geared up for its third edition to provide a platform for fashion designing students to unleash their creativity and connect with the world of fashion.

Full Story >>

New Delhi [India], Feb 24 (ANI): Despite an increase in the job market in the first half of 2017, finding the right talent will prove difficult for recruiters due to an on-going talent crunch. This sentiment has emerged from Naukri's Hiring Outlook survey 2017 a half yearly survey conducted to gauge the hiring sentiment across companies and industries.

Full Story >>

New Delhi [India], Feb. 24 (ANI): Online fashion portal, Jabong, announced its exclusive partnership with the leading iconic headwear brand New Era, available for men, women and kids.

Full Story >>

New Delhi [India], Feb. 24 (ANI-NewsVoir): Three members from the Internet of Things group at Next Tech Lab, SRM University won the Industrial IoT-AR/VR Make-a-thon organised by the IESA Vision Summit 2017.

Full Story >>

New Delhi [India], Feb. 24 (ANI): Online holiday portal, Travkart.com, announced the hiring of financial advisory firm, Global CFO, which provides virtual CFO and fund-raising services to companies.

Full Story >>

New Delhi [India], Feb. 24 (ANI): Following the successful solar implementation at Cochin International Airport, Ganges Internationale Private Limited (GIPL), a multifaceted technology company, bagged its second project to install 11MW module mounting structures, thus enabling Cochin airport to be the world's first 'Green Airport'.

Full Story >>

New Delhi [India], Feb. 24 (ANI): India-based Software-as-a-Service (SaaS) player, Djubo, launched an app facilitating property management system for hotels, titled Djubo Cloud PMS.

Full Story >>

New Delhi [India], Feb.23 (ANI): The government, in consultation with the Reserve Bank of India(RBI), has decided to issue Sovereign Gold Bonds 2016-17-Series IV.

Full Story >>

New Delhi [India], Feb.23 (ANI): The Central Board of Excise and Customs (CBEC) has launched a mobile application for Goods and Services Tax (GST) to inform the taxpayers of the latest updates on GST among others.

Full Story >>