Ambuja Cement, ICICI Bank enter into partnership to boost cashless trade

Our Bureau Mumbai | Updated on January 16, 2018 Published on December 29, 2016

Ambuja Cement has tied up with ICICI Bank to drive cashless transactions among its business partners — retailers, contractors and masons — and help them open current accounts for regular business transactions.

The Lafarge Holcim-owned company has launched a pan-India ‘Go Cashless’ campaign in the wake of demonetisation of high-value currency by the government. The campaign is targeted to help its business partners conduct cashless transactions with ease and create awareness on various cashless options available, including swipe machines and other bank services.

Post-demonetisation, construction activity, especially in rural and semi-urban areas, has been facing several challenges as it mostly deals in cash.

Ajay Kapur, Managing Director and CEO, Ambuja Cement, said the campaign is successful in seeding innovative thinking at the grass-root level and bringing information and technology to the forefront of the company’s business partners.

Helped dealers

The initiative has helped the company’s dealers to conduct cashless transactions. It has reached out to over 42,000 partners (retailers, contractors and masons) across India and over 45,000 via radio. In the last 20 days, the company has sent over 10 lakh text messages and two lakh WhatsApp messages, including a series of short animated clips, to kick-start an educational radio campaign across 17 different stations in New Delhi, Himachal Pradesh, Punjab, Rajasthan, Gujarat, Maharashtra and West Bengal, said the company in a statement on Thursday.

Published on December 29, 2016
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