Coal India Ltd (CIL) has introduced online signing of Fuel Supply Agreements (FSAs) for power and non-regulated sector customers, marking a shift towards paperless operations. The new system, implemented today, allows digital submission of bank guarantees and other required documents, eliminating the need for physical paperwork.
The shares of Coal India Ltd (CIL) were trading at ₹494.45 down by ₹3.85 or 0.77 per cent on the NSE today at 3.20 pm.
The move aims to streamline the FSA process, reducing time and improving customer convenience. Non-regulated sector customers now have a 90-day window to submit documents without penalty and can rectify discrepancies online without visiting coal company offices.
For the non-regulated sector, nearly 700 FSAs have been formalised online for about 19 million tonnes of coal since the introduction of the system with Tranche VII. The power sector has seen 262 FSAs signed digitally for approximately 24 million tonnes.
CIL officials highlight that the digital approach enhances transparency, simplifies document tracking, and eases maintenance of records. The company has also reduced the number of required documents to further facilitate business transactions.
This digitisation initiative represents a significant shift in CIL’s operations, potentially setting a new standard for the coal industry’s business practices.