Due to demonetization industry is in great crisis: PD Sharma

Ludhiana, December 5, 2016: Due to demonetization industry is in great crisis particularly due to Non Payment of industrial labour. P.D.Sharma, President, Apex Chamber of commerce & Industry (Pb.) has apprised government of India about this crisis through various means.

Finance Ministry’s senior officials enquired about the difficulties from P.D Sharma, President Apex Chamber. The lead bank of Ludhiana was directed by Finance Ministry to contact Apex Chamber. On discussion lead bank has told that account of labour which do not fulfill bank KYC norms, account can be opened for them also an adhoc basis. Unfortunately other banks seem to be ignorant about this provision. Lead bank has asked Apex Chamber to appraise the detail of industrial unit seeking the opening of accounts.