22-Nov-16 Emmbi has been built on the foundations of core values, fairness and equitable treatment of stakeholders. We share the optimistic view of the government’s that the effects of demonetisation would no doubt bring long-term benefits to the Indian economy.
Says Mr Makrand Appalwar, Chairman and MD of Emmbi, "For us nothing has changed after demonetisation was announced, and we sincerely believe this is for everyone’s benefit in the long run. Whilst we do admit there would be some immediate inconveniences to all concerned including the decision makers, this measure would help our stakeholders in the medium to long run. Emmbi’s transactions, be it revenues or expenditures are through the banking channels. Whilst exports that form over 50% of our revenues have to be done necessarily through banking channels, all domestic sales including the ones to rural areas have been done through government financial intermediaries, be it the “Jan Dhan” accounts, or channel partners. We feel that this de-monetisation drive will help us at counter the unethical competition."
We have on a parallel manner educated the workers in opening bank accounts, by having an ATM installed at our premises – so as a private entity we also believe in financial inclusion. Our drive towards this over the past year to open a salary accounts and issue a debit card to our workers is now benefitting. This also helps some of the migrant work force to transfer monies back homes. From a business perspective, we have a diversified product profile & multi continental client base and ensure that no client constitute more than 4% of overall revenues, and the combined tactic of moving to value added products, and developing new channels have also helped us beat recessionary conditions in the past."
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