Prime Minister Narendra Modi launched in Nagpur a cashless/less cash township model, developed by Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC).
The 81 townships included 56 in Gujarat and 25 in other States that have chosen to follow the cashless or less cash model.
These townships will deliver 2.5 lakh cashless transactions per day, translating into 9 crore cashless transactions in a year. GNFC’s township at Bharuch in Gujarat became India’s first cent per cent cashless township after demonetisation.
National Institution for Transforming India Aayog had 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, Birla Aditya, Welspun spread across 12 States, including Delhi, Gujarat, Uttar Pradesh, Madhya Pradesh, Maharashtra, Bihar and Chhatisgarh.
