Cash crunch: Here’s how Infosys, Flipkart and others are helping their employees
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Post demonetisation,
Prime Minister Narendra Modi’s move to make the 86% currency invalid suddenly created a mess for common people. Banks were full of people, long queues at ATMs were witnessed etc. However, to help meet the cash needs of their employees, companies, including
These companies have brought the bank facilities to the office premises and switch to cashless modes of transactions such as plastic currency and mobile or digital wallets. These apart, they have been generous with time off for staff.
Flipkart has tied up with a bank to set up desks at its offices where old notes can be swapped for new, in accordance with RBI guidelines. The facility has been used by more than 60% of the employees.
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Similarly, the Godrej Group has partnered with
"We host two ATM machines at our headquarters in Mumbai. They were recalibrated and replenished with the official currency on November 10, which has been very useful,”
Companies like Infosys and Chaayos are encouraging employees to go for smart cards and digital wallet whereas, MakeMyTrip is telling staff to bill their travel expenses, including tickets, to the company so that they don't incur any expenditure on their own.
"We have had sessions to educate the staff on mobile wallets so that they can use them more. Our entire inhouse cafe transactions have been moved to Paytm,” Ripudaman Gill, head of human resources at Chaayos, told ET.
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Other companies like Vodafone are teaching their employees about its M-Pesa app-that enables cash withdrawal from select M-Pesa stores, apart from setting up cash withdrawal counters at its premises.(image: IndiaTimes)
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