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CISF to switchover to cashless fuel procurement from Wednesday

IANS  |  New Delhi 

The on Tuesday initiated 'Fleet Management System' - the first-ever cashless mode of fuel procurement by any Central Armed Police Forces (CAPFs)- in collaboration with the IOCL to save an estimated Rs 13.5 lakh annually for the force tasked with guarding major installations across the country.

Director General, CISF, O.P. Singh said the system will be effected from Wednesday for all vehicles of deployed on pan India basis and will help in reducing operating costs and overheads, increase efficiency and simplify back-office functions.

Singh launched the system here at the forces' headquarters after signing an MoU with the Indian Oil Corporation Limited (IOCL).

"Through the scheme, petrol and diesel will be drawn by the force from Indian Oil outlets. The economies offered through this programme not only will have an important bearing on the day to day operations of but also benefit the government exchequer significantly," the CISF chief told IANS.

He said the IOCL has given 0.75 per cent rebate to every citizen who pays through debit card or credit card while procuring petrol or diesel and 1.35 per cent rebate after crossing the transaction of Rs 50 lakh.

"As we spend over Rs 50 lakh per month to run an estimated 800 vehicles of different variants across the country, we will get 2.1 per cent rebate on every bill and will save Rs 13.5 lakh annually.

"We will draw petroleum, oils and lubricants from almost more than 6,000 authorised IOCL outlets across the country and accrue twin financial benefits," he added.

About the functioning of the system, the CISF DG said: "IOCL will install its Management Information System (MIS) in CISF headquarters. Whenever any CISF driver will procure oil from these outlets from anywhere in the country, it will be updated in the MIS. IOCL will provide us monthly billing and we will have to pay them withing two months through digital mode, not in cash."

He said the biggest benefit of the system is that it will provide protection against pilferage.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 31 2017. 21:46 IST