Gujarat's corporate townships en-route to become cashless soon

Essar's Nand Niketan becomes India's first private township to go cashless with fin-tech firm TMW

All the 2,200 households in Essar Steel's Nand Niketan Township in Hazira have turned cashless, be it for their daily milk, newspaper, groceries, medicines all utility bill payments. In fact, the company claimed that it is the first such private sector township which has turned completely cashless with Mumbai-based financial technology company The Mobile Wallet (TMW).

Promoted by Vinay Kalantri, TMW is betting big on its 'cashless townships' vertical and is in talks with several other major corporates in Gujarat for adoption of their technology. The pilot project in Essar's Hazira township involved the adoption of smartphone-based TMW app