Coal India Ltd (CIL) has announced the launch of an online process for signing fuel supply agreements (FSAs) with its clients, including those in the power sector. This initiative aims to enhance ease of business by eliminating the previous requirement for physical submission of official documents, allowing clients to submit bank guarantees and other necessary documents digitally. This marks the first time CIL has introduced online signing of FSAs for customers participating in linkage-based auctions for both power and non-regulated sectors.
To streamline the process, CIL has reduced the number of documents required for submission, making it more efficient for clients. The online signing process replaces the cumbersome physical submission of voluminous documents, enabling customers to complete the entire procedure from their workplaces without needing to visit coal companies.
Moreover, in the event of discrepancies in submitted documents, corrections can now be handled online, eliminating the need for clients to visit CIL offices for rectification. With the online system, CIL can maintain and store documents digitally, significantly simplifying document management and tracking progress for both suppliers and customers. This shift to an electronic system is expected to improve operational efficiency and enhance customer experience for CIL's vast client base, as the company handles hundreds of FSAs annually.
