Tata Power announces that it uses only cashless transactions for making all its payments

Supporting the call from the Government to increase the adoption of cashless transactions in the country, Tata Power has announced that 100 percent of its payables are carried through with cashless transactions. The company no longer uses any cash for making payments.

All the vendors and employees of the company are paid through bank accounts or cheques. Contractors and associates are also paid without the use of hard cash.

Anil Sardana, CEO and MD, Tata Power, stated, “Tata Power is committed to strengthening the Digital India programme. Being a pioneer in technology, we have implemented various mechanisms to ensure all vendors and employees are paid digitally and on time. We are happy to announce that we are 100 percent cashless on the payments front and are working relentlessly towards achieving the same on the customers’ collection side as well. We hope to receive regulatory support in this endeavour”.

Tata Power has indicated that it is now working on reducing the number of cash transactions when collecting payments from customers, but only with regulatory support.

The various measures being taken to reduce cash intake includes setting up of automatic payment machines, Bharat bill payment system (BBPS), and the Unified Payment Interface (UPI).