03 October 2007

National Electronic Fund Transfer System

1. CSL has implemented E-Payment to Vendors/Contractors (National Electronic Fund Transfer System) with effect from 01 July 07, whereby all vendors/contractors, who have submitted their Bank/NEFT details are getting payment on the same day through NEFT and their Bank accounts get credited directly.

2. The advantage of Electronic payment is that it avoids delay associated with collection, depositing and clearance of the Cheque at the bank. It also helps us to settle the vendors/contractors bills expeditiously with higher transparency. Details of payment will also be communicated separately to the payee.

3. Those vendors/contractors who are yet to furnish their bank details are requested to furnish the same to the Finance Department in the prescribed format, which can be downloaded (click here).

By V.KALA
Company Secretary
Mob : 9895705113