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Commerce Min asks EPCs to maximise cashless transactions

Press Trust of India  |  New Delhi 

Amid demonetisation, the Commerce Ministry today asked the members of the export promotion councils (EPCs) to adopt and maximise cashless transactions for their operations.

"Members of EPCs urged to adopt and maximise cashless transactions for their operations. All EPCs to move to cashless transactions from January 1, 2017," the department of commerce said in its tweets.


Last month in a meeting with Commerce and Industry Minister Nirmala Sitharaman, the councils have urged to increase the withdrawal limits up to Rs 5 lakh from Rs 50,000.

Some exporters have either shut shop or scaled down production because of shortages following the of Rs 500 and Rs 1,000 notes.

Still several exporters, including from handicrafts segment, pay in for wages and procurement of raw materials.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 01 2016. 21:28 IST
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