1. Banks agree to deploy micro ATMs to aid cash strapped weavers

Banks agree to deploy micro ATMs to aid cash strapped weavers

Banks will deploy micro ATMs at handloom-handicrafts clusters so that weavers and artisans are not inconvenienced and can withdraw cash to buy raw materials through the Aadhar-enabled payment system.

By: | New Delhi | Published: November 21, 2016 8:54 PM
The decision was taken at a meeting chaired by Union textiles Minister Smriti Irani with bank officials today where she requested banks to reach out to the artisans and weavers and apprise them on demonetisation, besides making arrangements to make cash available to them. (Reuters) The decision was taken at a meeting chaired by Union textiles Minister Smriti Irani with bank officials today where she requested banks to reach out to the artisans and weavers and apprise them on demonetisation, besides making arrangements to make cash available to them. (Reuters)

Banks will deploy micro ATMs at handloom-handicrafts clusters so that weavers and artisans are not inconvenienced and can withdraw cash to buy raw materials through the Aadhar-enabled payment system.

The decision was taken at a meeting chaired by Union textiles Minister Smriti Irani with bank officials today where she requested banks to reach out to the artisans and weavers and apprise them on demonetisation, besides making arrangements to make cash available to them.

“The measure (dispensing cash) was taken to ensure weavers-artisans do not face difficulty in acquiring raw materials to continue handloom/handicrafts activity,” a Textile Ministry official said.

The micro ATMs will be mobilised by local bank officers in consultation with officials of weavers service and marketing service extension centres, which will sensitise weavers and artisans about their location through SMS. Following this, weavers and artisans will be able to withdraw cash from the micro ATMs.

Officials of weavers service centres and marketing service extension centres will assist banks in identifying handloom/handicrafts workers through ID cards issued to weavers and artisans.

On November 8, Prime Minister Narendra Modi announced the Government’s decision to withdraw legal tender status of Rs 500 and Rs 1,000 notes, a move aimed at eliminating black money and curbing terror financing.

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