Coronavirus lockdown: Coal India extends payment deadline till April 21
Aiming to lower the payment burden on its consumers amid the ongoing lockdown, Coal India Limited (CIL) has further extended the time limit for payment of coal booked by its customers, by two more weeks till April 21 from the earlier deadline of April 7. "We are reaching out to our customers with the most friendly initiatives that we can in this difficult period. The aim is to ease the stress of our customers," a company official said. The long-pending demand for Deferred Payment Letter of Credit has now been implemented as an additional mode of payment along with Irrevocable Revolving L/C for the coal supplied to power producers, especially independent power plants. This will help cash-strapped power producers avail credit facility through their banks to tackle the liquidity crunch. Read More