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GNFC, the first township to go 100% cashless wins Skoch Award, at 48th SKOCH Summit held in Mumbai.
On 20th June 2017, Gujarat Narmada Valley Fertiliser & Chemicals Limited (GNFC), was conferred with The Skoch Order of the Merit Award for Corporate Excellence for the Innovation for becoming the first 100% cashless township in India, at 48th SKOCH Summit at BSE International Convention Centre, Dalal Street, Mumbai.
Skoch Award salutes individuals, highlighting projects and focusing on institutions that take up an extra mile to make India a better nation. It is one of highest independently instituted civilian honors in India in the fields of governance, finance, banking, technology, corporate citizenship, economics and inclusive growth.
GNFC, based in Bharuch-Gujarat has emerged to be the first successful fertilizer company in India to transit the cashless economy. It is an initiative promoted by the Government of Gujarat and the Gujarat State Fertilizers & Chemicals Ltd.(GSFC). It is set up in the prosperous industrial belt at Bharuch, Gujarat drawing the resources of the natural wealth of the land as well as the industrially rich reserves of the area.
Under the prodigy of NITI Aayog, chaired by Hon’ble Prime Minister, GNFC’s cashless township model has been implemented in 81 integrated townships across 12 states. On 14th April, Shri Narendra Modi launched these townships in a grand ceremony in Nagpur, hoping that there are possibilities that many more townships will become cashless in the coming future. Currently, it is working on enabling Direct Benefit Transfer (DBT) to the farmers for their fertiliser subsidy.
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