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Web Exclusive | January 2017

41% MSMEs see surge in cheque & e-payments

CRISIL’s nationwide survey of micro, small and medium enterprises (MSMEs) shows a substantial shift away from cash transactions following the government’s move to demonetise bank notes of Rs 500 and Rs 1,000 denomination recently.

To be sure, the cash ban has impacted business operations, but more importantly, demonetisation has spurred a major change in the way MSMEs conduct business. Most of them see only a short-term impact of demonetisation, and more than three-fourths believe it will be business as usual by June 2017. As many as 41 per cent of MSMEs said their clients have shifted to cheque or electronic payment since demonetisation.

Says Ashu Suyash, Managing Director and CEO, CRISIL: “It is heartening to see this marked shift to cheque or electronic payments, especially in the traditional, cash-intensive sectors such as textiles, agricultural products, electrical equipment, steel, consumer durables and automobiles. Given that these are the core sectors of the economy, a move to ‘less-cash’ transactions will eventually transform business models in the MSME sector.”
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S Panchal And Co.      C.Gheewala And Co.      Colorjet India Ltd      Continental Engineering Indus Pvt Ltd      Croda India Co.      CS-ITEC Systel Private Limited      Custom Logics Pvt. Ltd.      Dhara Engineering Works      Duratech Automation Pvt Ltd      Dynamic Motors and Services      Elgi Electric and Industries Ltd      Elgi Equipments Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Exolloys Engineering Pvt Ltd      Fadis Textile Machinery      Ganesh Engineering      Gayatri Industrial Engineers      Golden Precision Products P Ltd      Golden Precision Products P. Ltd / Golden Engineering Co.      Graf (Rieter India)      Grasim Industries Ltd      Groz-Beckert Weaving      HMSU Rollers (India) Pvt Ltd      Indigo Prints Smart Pvt Ltd      Inditech International (Binsfeld)      Innova Machines      ITEMA WEAVING (INDIA) PVT LTD      J.V. Engineers      Jacobi Machinery Pvt Ltd (Simta)      Jacobi Machinery Pvt Ltd (Simta)      Jiangyin Guoguang Calender And Fibre Roller Co., Ltd      Jogindra Industries Pvt Ltd      K K Engineering Works      K U Sodalamuthu and Co. Pvt Ltd      Kanai Juyo Kogyo Co. Ltd      Ketex Industrial Handling Pvt Ltd      Key Textile Accessories Pvt Ltd      Kirloskar Toyota Textile Machinery Pvt Ltd      Kobelco Compressors India Pvt Ltd      Koerting Engineering Pvt Ltd      Kothari Techno Tex      Krofta Engineering Ltd      Kusters Calico Machinery Pvt Ltd      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine Works Ltd      Laxmi Shuttleless Looms Pvt Ltd      Laxmi Textile Stores      Lifebond Machines Pvt Ltd      Loepfe Brothers Ltd      Lucy Engineering Works Pvt Ltd      Luwa India Pvt Ltd      M K Brothers Mfrs Pvt Ltd      M Tex Enterprises / Megastar Coolers Pvt ltd      M.S.J Impex      Marvel Gloves Industries / FAB Industries      Marzoli Machine Textiles S.R.L      Mayur Reeds And Healds Pvt Ltd      Menzel Engineering India Pvt Ltd      MESDAN India Pvt Ltd      Metal Perforation Pvt Ltd      MM International      Mohler Machine Works Pvt Ltd      Moksha Thermoplastics Pvt. Ltd      Mylon Metallics Pvt Ltd      Mylon Metallics Pvt Ltd      Nanotek Agencies      Omkar Engineering Works      Oxford Electrohit      Panna Spin Equipments Pvt Ltd      Peass Industrial Engineers Pvt Ltd      Peeyespe Engg. Corporation      Perfect Equipment Pvt.Ltd (BONINO)      Perfect Equipment Pvt.Ltd (BONINO)      Picanol N V      Pioneer Industries      Prashant Gamatex Pvt Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Reshmi Industries (India) Pvt Ltd      Rieter India Pvt Ltd      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      S Mohanlal Group of Companies      S Mohanlal Group of Companies      Sahas Engineering Corporation      Sainit Textiles / Sainit Exports      Sakthi Textile Engineers      Saurer Components Gmbh      Saurer Textile Solutions Pvt. Ltd      Savio Texcone (P) Ltd      SG Pneumatics Pvt Ltd      Shail International Pvt Ltd      Shakti Textile      Sheeba Engineering Co.      Sheltronics Control Systems Pvt Ltd      Shivam Engineering Works      Shree Gayatri Heald Mfg. Co.      Shree Ram Textile      Shree Weltex Industries      Shrutex Overseas      Skaat Machine Works India Pvt Ltd      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      Solid Wheels Industries      Sopromatex (UCMTF)      SPINCAN Manufacturing Co.      SRE Corporation      Sri Lakshmi Fire Controls      Staubli AG      Stella India      Sunrise Industries      Tai Ho Shing Knitting Machinery Co. Ltd      Taining Machine Industrial Co. Ltd      Tech Shivam Industries      Techno Industries      Texfab Engineers (India) Pvt Ltd      Textech Industries India Pvt Ltd      The Indian Card Clothing Co. Ltd      Umargaon Textile Machinery Pvt Ltd      Uster Technologies AG      Vaari Textile Machine India Ltd      Vetri Engineers      Weltex Industries      Yale Synthlube Industries      Yamuna Machine Works Ltd      A.T.E. Enterprises Pvt.Ltd (Goller)      A.T.E. Enterprises Pvt.Ltd (Luwa)      A.T.E. Enterprises Pvt.Ltd (Monforts Fongs-MFT)      A.T.E. Enterprises Pvt.Ltd (Processing - Digital Printing)      A.T.E. Enterprises Pvt.Ltd (Processing ETP)      A.T.E. Enterprises Pvt.Ltd (TCC)      AB Carter India Pvt Ltd      Advantex Technology Solution LLP      Alidhra Weavetech Pvt Ltd      AM Inno-spin Systems Pvt. Ltd      Apex Precision Mechatronix Pvt Ltd      Arudatta Triotex Engineers Pvt Ltd      Autotex Ancillaries Pvt Ltd      Barnet India Pvt Ltd      Basant Wire Industries Pvt Ltd      Batliboi Ltd      Belmark Industries      Bhagyarekha Engineers Pvt Ltd      Bharat Beams Pvt Ltd      Bharat Bijlee Ltd      Biancalani Srl      Bianco Textile Solutions India Pvt Ltd      Bohmen Industries      Bracker AG (Rieter)      British Textile Machinery Association      Bry-Air Asia Pvt Ltd      C. S Panchal And Co.      C.Gheewala And Co.      Colorjet India Ltd      Continental Engineering Indus Pvt Ltd      Croda India Co.      CS-ITEC Systel Private Limited      Custom Logics Pvt. Ltd.      Dhara Engineering Works      Duratech Automation Pvt Ltd      Dynamic Motors and Services      Elgi Electric and Industries Ltd      Elgi Equipments Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Exolloys Engineering Pvt Ltd      Fadis Textile Machinery      Ganesh Engineering      Gayatri Industrial Engineers      Golden Precision Products P Ltd      Golden Precision Products P. Ltd / Golden Engineering Co.      Graf (Rieter India)      Grasim Industries Ltd      Groz-Beckert Weaving      HMSU Rollers (India) Pvt Ltd      Indigo Prints Smart Pvt Ltd      Inditech International (Binsfeld)      Innova Machines      ITEMA WEAVING (INDIA) PVT LTD      J.V. Engineers      Jacobi Machinery Pvt Ltd (Simta)      Jacobi Machinery Pvt Ltd (Simta)      Jiangyin Guoguang Calender And Fibre Roller Co., Ltd      Jogindra Industries Pvt Ltd      K K Engineering Works      K U Sodalamuthu and Co. Pvt Ltd      Kanai Juyo Kogyo Co. Ltd      Ketex Industrial Handling Pvt Ltd      Key Textile Accessories Pvt Ltd      Kirloskar Toyota Textile Machinery Pvt Ltd      Kobelco Compressors India Pvt Ltd      Koerting Engineering Pvt Ltd      Kothari Techno Tex      Krofta Engineering Ltd      Kusters Calico Machinery Pvt Ltd      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine Works Ltd      Laxmi Shuttleless Looms Pvt Ltd      Laxmi Textile Stores      Lifebond Machines Pvt Ltd      Loepfe Brothers Ltd      Lucy Engineering Works Pvt Ltd      Luwa India Pvt Ltd      M K Brothers Mfrs Pvt Ltd      M Tex Enterprises / Megastar Coolers Pvt ltd      M.S.J Impex      Marvel Gloves Industries / FAB Industries      Marzoli Machine Textiles S.R.L      Mayur Reeds And Healds Pvt Ltd      Menzel Engineering India Pvt Ltd      MESDAN India Pvt Ltd      Metal Perforation Pvt Ltd      MM International      Mohler Machine Works Pvt Ltd      Moksha Thermoplastics Pvt. Ltd      Mylon Metallics Pvt Ltd      Mylon Metallics Pvt Ltd      Nanotek Agencies      Omkar Engineering Works      Oxford Electrohit      Panna Spin Equipments Pvt Ltd      Peass Industrial Engineers Pvt Ltd      Peeyespe Engg. Corporation      Perfect Equipment Pvt.Ltd (BONINO)      Perfect Equipment Pvt.Ltd (BONINO)      Picanol N V      Pioneer Industries      Prashant Gamatex Pvt Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Reshmi Industries (India) Pvt Ltd      Rieter India Pvt Ltd      Rieter India Pvt Ltd (Novibra)      Rieter India Pvt Ltd (Suessen)      S Mohanlal Group of Companies      S Mohanlal Group of Companies      Sahas Engineering Corporation      Sainit Textiles / Sainit Exports      Sakthi Textile Engineers      Saurer Components Gmbh      Saurer Textile Solutions Pvt. Ltd      Savio Texcone (P) Ltd      SG Pneumatics Pvt Ltd      Shail International Pvt Ltd      Shakti Textile      Sheeba Engineering Co.      Sheltronics Control Systems Pvt Ltd      Shivam Engineering Works      Shree Gayatri Heald Mfg. Co.      Shree Ram Textile      Shree Weltex Industries      Shrutex Overseas      Skaat Machine Works India Pvt Ltd      Skaat Machine Works India Pvt Ltd      SMEW Textile Machinery Pvt Ltd      Solid Wheels Industries      Sopromatex (UCMTF)      SPINCAN Manufacturing Co.      SRE Corporation      Sri Lakshmi Fire Controls      Staubli AG      Stella India      Sunrise Industries      Tai Ho Shing Knitting Machinery Co. Ltd      Taining Machine Industrial Co. Ltd      Tech Shivam Industries      Techno Industries      Texfab Engineers (India) Pvt Ltd      Textech Industries India Pvt Ltd      The Indian Card Clothing Co. Ltd      Umargaon Textile Machinery Pvt Ltd      Uster Technologies AG      Vaari Textile Machine India Ltd      Vetri Engineers      Weltex Industries      Yale Synthlube Industries      Yamuna Machine Works Ltd