Exchange Core Banking facility for financial transactions. Indian Settlement Systems such as Real time gross settlement RTGS and National Electronic Funds Transfer (NEFT) System is also available in almost all branches of banks in the city. Despite of all these Bankers clearing house in the city processes approximately 8000 Cheques on each working day. Clearing house is managed by the State Bank of India. Most of the Insurance and companies in India have offices in the city.
Textile industry
Before 1980 Ichalkaranji was famous for cotton poplin, dhoti, and cotton saris. In mid-1980s, weavers of the city started producing denim, canvas, chiffon, and fabric for school uniforms (khaki drill). Fabrics such as seersucker, Oxford, herringbone, ripstop, chambray, tweed, and twill made in or around the Ichalkaranji city are used by many domestic and international fashion brands such as Raymond’s of India, Armani, Banana Republic, Hugo Boss, and Paul Smith.
The presence of a qualified workforce and the level of technical know-how and easy accessibility to finest weavers of Ichalkaranji for outsoaring and over all good social ambiance were among the factors that influenced Italian textile major Tessitura Monti, Turkish textile maker ‘Soktas’, Bombay Rayon Fashions Ltd (BRFL), Raymond Zambaiti Ltd (A joint venture of Raymond’s Ltd and internationally renowned Cotonificio Honegger S.P.A, part of Gruppo Zambaiti), world famous German Men’s wear brands Liebe, Boys R Bad and Looty etc.. while planning investment near Ichalkaranji city.
Spinning
In 1962 the Deccan Co-operative Spinning Mill Ltd. came into existence in Ichalkaranji, which was the first Co-operative Spinning Mill in Asia. As of 2010 over 20 modern spinning mills this region has become one of the major centre for spinning mills in India. Some of these spinning
