The CISF on Tuesday inked a pact with the IOCL to initiate a first-ever cashless system of fuel procurement in the Central Armed Police Forces (CAPFs), a step which is expected to save an estimated Rs 12 lakh per annum for the force tasked to secure country’s vital installations. A Memorandum of Understanding (MoU) for the initiative called ‘Fleet Management System’ was signed between Indian Oil Corporation Ltd and the CISF, which was led by Director General O P Singh. “The new cashless system will reduce operating costs and overheads, increase efficiency and simplify back-office functions.
Watch What Else Is Making News:
“The economies offered through this programme not only will have an important bearing on the day to day operations of CISF but also benefit the govt exchequer significantly,” a senior official said, adding the initiative will begin from tomorrow.
The official said the paramilitary spends about Rs 50 lakh per month to run an estimated 800 vehicles of different variants across the country and the initiative will help it save funds to the tune of at least Rs 12 lakh per year. “This is a step where we work to conform to the national objective of conducting cashless and digital transactions. The initiative will lead to better fleet management and saving of money,” Singh said.
“Petroleum, oils and lubricants will be drawn from IOCL outlets and twin financial benefits of 1.35 per cent IOCL incentive and 0.75 per cent of government initiative will accrue.
“In real-time fleet metric analysis, this translates to saving of minimum Rs 12 lakh for the exchequer besides the ease of cashless transaction,” the official added. The 1.47 lakh personnel-strong force is tasked with the security of vital installations like civil airports and those in the nuclear and aerospace domain. The Central Industrial Security Force works under the command of the Union Home Ministry and its sister forces include the CRPF, BSF, ITBP and SSB.