Advertise Here [468 W x 60 H pixels]
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.”
Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image


 
Advertise Here [728 W x 90 H pixels]
A.T.E Enterprises Pvt Ltd (Processing ETP)      A.T.E. Enterprises Pvt.Ltd (Luwa)      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      ATE Enterprises Pvt Ltd (Spinning-Common Advtg)      B&R Industrial Automation Pvt. Ltd.      Bharat Bijlee Ltd      Bry-Air Asia Pvt Ltd      Chandra Electric Company      Delair India Pvt Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      GEM Equipments Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mag Solvics Pvt.Ltd      Mangal Singh Brothers Pvt Ltd      MM International      Moksha Thermoplastics Pvt. Ltd      Nestling Technologies      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Shail International Pvt Ltd      Simta Group Of Companies      Skaat Machine Works India Pvt Ltd      SRE Corporation      SSP Pvt Ltd      Stella India      Sudarshan Gears      Techaids      Techno Industries      Thymas Electronics Pvt Ltd      Unitop Aquacare Evaporation and Driving System      Uster Technologies AG      A.T.E Enterprises Pvt Ltd (Processing ETP)      A.T.E. Enterprises Pvt.Ltd (Luwa)      Arvind Rub-Web Controls Ltd      Associated Autotex Ancillaries Pvt Ltd      ATE Enterprises Pvt Ltd (Spinning-Common Advtg)      B&R Industrial Automation Pvt. Ltd.      Bharat Bijlee Ltd      Bry-Air Asia Pvt Ltd      Chandra Electric Company      Delair India Pvt Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      GEM Equipments Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Lakshmi Machine Works Ltd      Loepfe Brothers Ltd (Masterline)      Mag Solvics Pvt.Ltd      Mangal Singh Brothers Pvt Ltd      MM International      Moksha Thermoplastics Pvt. Ltd      Nestling Technologies      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Rieter India Pvt. Ltd      Savio India Ltd      Savio Texcone Pvt Ltd      Shail International Pvt Ltd      Simta Group Of Companies      Skaat Machine Works India Pvt Ltd      SRE Corporation      SSP Pvt Ltd      Stella India      Sudarshan Gears      Techaids      Techno Industries      Thymas Electronics Pvt Ltd      Unitop Aquacare Evaporation and Driving System      Uster Technologies AG