Essar group: India’s first private sector township to go cashless

The Essar group’s township at Hazira in Surat district of Gujarat has become India’s first private sector township to go cashless.

The residents of Essar township have been provided with The Mobile Wallet (TMW) that has seen more than 12,000 app downloads since the launch recently. This will prove to be an important step towards making India a cashless economy. Prime Minister of India in his demonetization speech clearly stated that we can not make India go cashless immediately but we can try to move towards Less-Cash Economy.

TMW is a Mumbai-based financial technology company whose wallet is powered by Mumbai-headquartered RBL Bank Ltd.

Takeaways from above news:

  • MD and CEO of Mumbai-headquartered Ratnakar Bank Ltd (RBL) is Vishwavir Ahuja.
  • First cashless private sector township of India is Essar group’s township in Gujarat.
  • The Mobile Wallet (TMW) app is launched by Mumbai-based The Mobile Wallet Pvt. Ltd.

Source- The Indian Express

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