Demonetisation: KVIC sales grow 9.25% in Dec in spite of cash ban

Sales of khadi and village industry products grew 9.25 per cent in December despite the demonetisation drive, KVIC said. The Khadi and Village Industries Commission (KVIC) sells these through more than 7,100 sales outlets across the country. Chairman V K Saxena said the decision to demonetise Rs 1,000 and Rs 500 notes has not impacted […]

Sales of khadi and village industry products grew 9.25 per cent in December despite the demonetisation drive, KVIC said.

The Khadi and Village Industries Commission (KVIC) sells these through more than 7,100 sales outlets across the country. Chairman V K Saxena said the decision to demonetise Rs 1,000 and Rs 500 notes has not impacted the sales.

“Though in the initial 2-3 days, there was a slight dip in the sale, this was quickly overcome by encouraging more modes of digital payments and also introducing an incentive scheme for providing gift on purchases for more than Rs 2,000 per bill through digital payments,” he said in a statement.

KVIC also allowed 1 per cent additional discount in its departmental sales outlets on digital payments.

In the last one and a half months, KVIC set up awareness camps and held workshops for cashless transactions in its all zones for the benefit of khadi institutions and artisans and has also distributed debit cards to artisans.

Source: The Financial Express