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  1. Demonetisation: Amul opens 5.4 lakh new savings account for milk men

Demonetisation: Amul opens 5.4 lakh new savings account for milk men

Post-demonetisation, the only remained option to run a smooth life was to go cashless and in this regard country's biggest milk and milk products producer Amul has come forward to help its members, especially in rural areas.

By: | New Delhi | Updated: December 24, 2016 1:09 AM
The company has alone opened more than 5.4 lakh savings bank accounts across the nation for its milk men. The company has alone opened more than 5.4 lakh savings bank accounts across the nation for its milk men.

While the government is claiming the demonetisation of Rs 500 and Rs 1000 bank notes as the biggest economics reform, people are struggling to withdraw cash from their bank accounts or ATMs. Even after more than a month of the decision, there are considerable queues outside banks, in this condition many cases come forward where people are unable to meet daily needs and small business even local grocery shops are suffering from the cash crunch.

In this situation, the only remained option to run a smooth life was to go cashless and in this regard country’s biggest milk and milk products producer Amul has come forward to help its members, especially in rural areas.

The company has alone opened more than 5.4 lakh savings bank accounts across the nation for its milk men and shifted itself to online payments to avoid inconvenience. This is not only a revolutionary step but also a big push to Prime Minister Narendra Modi’s ‘Digital India’ initiative. Post-demonetisation the government is also promoting e-payments and asking people to opt for this. Now, Amul’s step came as an endorsement to it.

Now, the milk men connected to Amul will be able to deposit and receive payments through online mode or e-banking.

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Amul is not only known for its product also for the great ‘white revolution’ in the country, which had changed the country’s picture decades ago. In 70’s, the company had played a great role in then Prime Minister Lal Bahadur Shastri’s initiative ‘Operations Blood’ under the leadership of Late. Verghese Kurian that brought ‘White Revolution’, which was basically related to the production of milk. ‘Operation Flood’ had changed the lives of people and Gujarat emerged as the biggest producer of milk in the country.

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