Union Minister of Labour and Employment <keyword id="19906409" type="General" weightage="20" keywordseo="mansukh-mandaviya" source="keywords">Mansukh Mandaviya</keyword> and Chairperson of the Central Board of Trustees, EPF, have given the green light to the proposal for a Centralised <keyword id="23037839" type="General" weightage="100" keywordseo="Pension-Payment-System" source="keywords">Pension Payment System</keyword> (<keyword id="23039389" type="General" weightage="20" keywordseo="CPPS" source="keywords">CPPS</keyword>) under the Employees' Pension Scheme, 1995. According to the Ministry of Labour and Employment, this initiative represents a major advancement by establishing a national-level centralised system, allowing pension disbursement through any bank or branch across India. Commenting on this development, Mandaviya stated, "The approval of the Centralised Pension Payment System (CPPS) marks a significant milestone in the modernization of the <keyword id="19966712" type="General" weightage="20" keywordseo="EPFO" source="keywords" meta.keywordsubtype="org" meta.entityname="EPFO" meta.hostid="83" meta.entityid="EPFO">EPFO</keyword>. By enabling pensioners to receive their pensions from any bank, any branch, anywhere in the country, this initiative addresses the long-standing challenges faced by pensioners and ensures a seamless and efficient disbursement mechanism." He added, "This is a crucial step in our ongoing efforts to transform the EPFO into a more robust, responsive, and tech-enabled organisation, committed to serving the needs of its members and pensioners better." The CPPS is expected to benefit over 7.8 million <keyword id="21992385" type="General" weightage="20" keywordseo="EPS-Pensioners" source="keywords">EPS pensioners</keyword> of EPFO. By leveraging advanced IT and banking technologies, it aims to provide a more efficient and user-friendly experience for pensioners. The CPPS will also ensure seamless pension disbursement across India, eliminating the need to transfer Pension Payment Orders (PPO) when a pensioner relocates or changes their bank or branch. This will be a significant relief for pensioners who move to their hometowns post-retirement. This facility will be launched on January 1, 2025, as part of EPFO's ongoing <keyword id="23015602" type="General" weightage="20" keywordseo="IT-Modernization" source="keywords">IT modernization</keyword> project, Centralised IT Enabled System (CITES 2.01). In the following phase, CPPS will enable a smooth transition to an <keyword id="20028363" type="General" weightage="20" keywordseo="Aadhaar-based-Payment-System" source="keywords">Aadhaar-based payment system</keyword> (ABPS). The CPPS marks a significant departure from the current decentralised pension disbursement system, where each EPFO Zonal/Regional Office maintains separate agreements with only 3-4 banks. Pensioners will no longer need to visit branches for verification at the start of their pension, as it will be credited immediately upon release. Additionally, EPFO anticipates a significant reduction in disbursement costs with the new system.

EPS Pensioners to get pension from any bank, any branch, anywhere in India from January 1, announces Mansukh Mandaviya

Aluminium Association of India (AAI) has written to the Prime Minister's Office (PMO) on the alarming situation for the highly power intensive <keyword id="1188550" type="General" weightage="20" keywordseo="aluminium-industry" source="Orion">aluminium industry</keyword> due to critical <keyword id="487736" type="General" weightage="20" keywordseo="coal-shortage" source="Orion">coal shortage</keyword>. To avoid closure of Aluminium industry and save lakhs of livelihoods and SMEs, AAI has requested PMO intervention to normalise the precarious situation with immediate resumption of coal and rakes supply for highly power intensive Aluminium industry CPPs, and earmarking at least 25-30 coal rakes per day for economically viable and sustainable industry operations. AAI has sought immediate support for resumption of uninterrupted coal supplies and rakes for highly power intensive Aluminium industry Captive Power Plants (CPPs), which are facing alarmingly depleted coal stocks of 3-4 days as compared to the prescribed level of over 15 days. With untiring efforts of Coal India and subsidiaries, the Power Sector situation has improved significantly with 9-10 days' stocks from as low as 3-4 days in August-September, 2021. However, this has come at an enormous cost to the Non-Power Sector and the worst impacted are the CPPs of the Aluminium industry, which continues to struggle for getting uninterrupted coal supplies resulting a backlog of over 1,200 rakes. Most of the available coal and rakes are being diverted away to the Power Sector as "priority coal supplies", while the CPPs are starving and facing acute coal crunch. The coal supply to non-power sector has been significantly declined by 18 per cent for non-power sector over September-January period, AAI said in the letter to the PMO. Although, the overall coal supply from CIL has started improving currently, still the dispatch from major CIL subsidiaries like MCL, SECL, etc., is not sufficient to cater the requirement of non-power sector / CPPs and needs to be ramped up to cater requirement of industry for continued sustainable operations. The coal demand for these CPPs cannot be catered with imports, as even usage of imported coal is not feasible technically as well as economically, and logistics constraints are also huge challenge for transportation of such large quantity leading to congestion of rail network and ports infrastructure, AAI said. The country's booming manufacturing sector also stares at a possible derailment if the present situation is not addressed immediately and may lead to collapse of domestic industry and associated SMEs. Further, the shortage of raw materials and Aluminium inputs to other key industries will lead increased imports and loss of export earnings. With the revival of economy and post-pandemic industrial activity, the CPP-based industries are highly dependent on uninterrupted coal supplies, which is vital for the sustainable operations and cost-competitiveness of power intensive industries vis-a-vis global players. Any production curtailment by this sector will have cascading effect on consumption and downstream supply chain, thereby adversely impacting the nation's GDP growth, AAI said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/maruti-icici-bank-hdfc-bank-hero-motocorp-amongst-top-losers-today-as-russia-ukraine-conflict-continues-to-worsen/articleshow/89939475.cms">Maruti, ICICI Bank, HDFC Bank, Hero MotoCorp amongst top losers today as Russia-Ukraine conflict continues to worsen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-steel-jindal-steel-hindalco-nalco-and-other-steel-and-metal-stocks-up-today-because-russias-supply-disrupted/articleshow/89939527.cms">Indian metal companies to benefit from Russia’s supply disruption due to war with Ukraine</a>

Aluminium industry writes to Prime Minister   on severe coal shortage

With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (<keyword id="47439" type="General" weightage="20" keywordseo="aai" source="Orion">AAI</keyword>) has approached the Ministry of Coal, urging the immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry. In its representation to the Ministry, the AAI has lauded the combined efforts by the Ministry of Coal and Coal India Limited in reviving domestic coal production, which has helped ease the coal supply crisis for the Power Sector. The steps undertaken by the Ministry increased the overall daily rakes dispatched from 242 rakes/day in September 2021 to 289 rakes/day in December 2021. This has drastically strengthened the coal stocks of the Power Sector to around 10 days, a marked improvement from a mere 2-3 days in the months of September-October last year. However, this has come at enormous cost to the <keyword id="629340" type="General" weightage="20" keywordseo="Captive-Power-Plants" source="Orion">Captive Power Plants</keyword> (CPP)-based industry and the worst impacted is the Indian aluminium industry, which continues to see depleting coal stocks of only 3-4 days, abysmally low compared to the prescribed level of 15 days for the sector. Struggling to cope with this prolonged crisis since the second quarter of this fiscal year, the AAI has now sought the Ministry's support to ensure adequate supplies to the CPPs by earmarking at least 25-30 coal rakes per day to ensure viable industry operations. The need for the CPPs is especially urgent, given that Aluminium production is a continuous process that requires huge volumes of uninterrupted quality power supply. This quantum can only be met only through the in-house CPPs set up by all the aluminium smelters plants to meet this specific requirement. Accordingly, the industry has established Captive Power Plants of 9,400 MW capacity (comprising 34 per cent of the cumulative thermal CPPs capacity domestically) to supply continuous power for Aluminium operations. Even though the Government has reiterated that there is now an improved availability of coal in the country overall, the non-availability of rakes for the non-regulated sectors remains a major concern. Curtailing coal supplies to Captive Power Plants (CPPs) has directly resulted in a coal crunch situation for the Aluminium Sector. Any power interruption in an aluminium smelting operation for more than 2 hours can lead to the freezing of molten aluminium within the smelting pots, which takes a minimum of 6 months to fix, and then almost a year to once again begin yielding the desired metal output, causing enormous production, cost and supply disruptions. With the continued crisis, it will take over a year's time to clear the backlog of rakes, and for the CPPs to build and maintain adequate coal stocks for sustainable operations. The crisis further aggravates with the last-minute cancellation of coal auctions for NRS, giving no relief for the domestic industry to secure coal for manufacturing and CPP-based industries. With the ongoing revival of the economy and increased post-pandemic industrial activity, the CPP-based industries are highly dependent on uninterrupted coal supplies which is vital for sustainable operations and the continued cost-competitiveness of power intensive industries vis-a-vis global players. Any production curtailment by this sector will have cascading effect on consumption and downstream supply chain, thereby adversely impacting the nation's GDP growth. The AAI representation has gone on to highlight that since August 2021, the Non-Regulated Sector has been facing uncertainties in securing sufficient coal rakes for continued operations, with supplies limited to just 40-50 per cent of the required coal. This has led to a backlog of over 6000 coal rakes as most of the available coal and rakes are being diverted to the Power Sector as "Priority Coal Supplies", even despite their coal inventory situation drastically improving. SEE MORE <a href="https://www.businessinsider.in/budget/news/budget-2022-nirmala-sitharaman-was-asked-these-10-questions-on-cryptocurrency-employment-inflation-in-india/slidelist/89280855.cms" data-type="tilCustomLink" style="">India’s finance minister was asked these 10 questions and these were her answers</a> <a href="https://www.businessinsider.in/business/startups/news/meet-maju-kuruvilla-the-new-indian-origin-ceo-of-fintech-startup-bolt/slidelist/89292220.cms" data-type="tilCustomLink" style="">Meet Maju Kuruvilla, the new India-orgin CEO of fintech startup Bolt</a> <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms" data-type="tilCustomLink" style="">More employees are leaving Tech Mahindra than TCS and Wipro</a>

Coal shortage now at alarming levels, say aluminium producers

Even as supplies of coal are being ramped up at power plants, supplies to non-power sector plants may be kept suspended. Southern Eastern Coalfields, a subsidiary of Coal India has finalised the supply matrix of coal rakes to critical power plants after a meeting held by the Coal Ministry. The power plants where coal rakes will be provided are Rajpura, HRVUNL, <keyword id="201425" type="General" weightage="20" keywordseo="kawai" source="Orion">Kawai</keyword>, <keyword id="201223" type="General" weightage="20" keywordseo="akaltara" source="Orion">Akaltara</keyword>, Binjkote, <keyword id="12306176" type="General" weightage="20" keywordseo="dspm" source="Orion">DSPM</keyword>, Pathad, Sabarmati, GSECL, Uchpanda, Annupur, <keyword id="173653" type="General" weightage="20" keywordseo="seoni" source="Orion">Seoni</keyword>, MPPGCL, Amrawati, <keyword id="4161340" type="General" weightage="20" keywordseo="warora" source="Orion">Warora</keyword>, Dhariwal, Tirora, NTPC, and <keyword id="6423479" type="General" weightage="20" keywordseo="mahagenco" source="Orion">Mahagenco</keyword>. Since the supplies of SECL are yet to be normalised, the supply of coal will be done equitably to these power plants. "Supplies to non-power sector plants may be kept suspended till further information," the SECL said. Meanwhile, the Aluminium Association of India (AAI) has written to Coal India on the alarming situation for the industry due to critical coal shortage and urgency for immediate resumption of coal supplies for survival of domestic industry. Despite untiring efforts of the Coal Ministry and the CIL to support the industry, the current acute coal crunch due to various factors which has created an immensely precarious situation, majorly for the highly power intensive industries like aluminium wherein coal accounts for 40 per cent of the production cost. Aluminium smelting requires uninterrupted quality power supply for production which can be met only through in-house CPPs which operate 24/7 and 365 days, and have signed FSA (Fuel Supply Agreement) with the CIL and its subsidiaries for assured long term coal supply. The recent decisions for stoppage of secured coal supplies and rakes for non-power sector is detrimental for aluminium industry and will jeopardize the sustainability as these continuous process-based plants are not designed for adhoc shut down and start of operations. Any power outage/failure (2 hours or more) results in freezing of molten aluminium in the pots which will lead to shutting down of plant for at least 6 months rendering heavy losses and restart expenses, and once restarted, will take almost a year to get desired metal purity. Aluminium is a sector of strategic importance and an essential commodity for diversified sectors crucial for nation's economy. Huge investment of Rs 1.2 lakh crore ($20 billion) have been made to double the domestic production capacity to 4.1 mtpa to cater to the country's increasing demand. The industry employs one million people and has developed 4000 SMEs in downstream sector. "The entire industry has been brought to a standstill and left with no time to devise any mitigation plan to continue sustainable operations. The coal stocks of operational plants have depleted to alarmingly low critical stocks of 2-3 days, from the level as high as 15 days in the month of April, 21, and plants are forced to operate at reduced power generation with huge risk of closure with threat of loss of huge employment and deterioration of MSMEs," the AAI said. Moreover, the ongoing global aluminium shortage due to supply demand mismatch is also adding to the woes for industry with the current coal situation in India. Adding to the plight of industry, the exponentially rise in coal prices have created a double whammy as the global coal prices have gone up exponentially and are on an upward trend while the ocean freight rates are also at all-time high. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/coal-shortage-many-districts-in-bihar-face-more-than-10-hours-of-power-outage-in-last-few-days/articleshow/86987165.cms">Coal shortage: Many districts in Bihar face more than 10 hours of power outage in last few days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/android-phones-constantly-send-data-from-pre-installed-apps-even-if-theyve-never-been-used-before/articleshow/86988368.cms">Research reveals Android phones constantly send data from pre-installed apps even if they’ve never been used before</a>

Coal supplies to non-power sector plants may be kept suspended

<ul><li>The company has announced non-working days for 5 of its manufacturing plants “due to continued weak demand”.</li><li>The number of non-working days in a plant is as high as 18 days. </li><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword>, Mahindra &amp; Mahindra, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword> and Hero Motocorp had all announced no production days owing to the weak demand.</li></ul>Ashok Leyand is the latest auto manufacturer to announce a production cut. The company said that five of its manufacturing plants have non-working days “due to continued weak demand”. Its plants in Ennore, Hosur and CPPS, Alwar, Bhandara and Pantnagar will have many holidays in September. The number of non-working days in a plant being as high as 18. In August, <keyword id="6357085" type="PERSON" weightage="20" keywordseo="ashok-leyland">Ashok Leyland</keyword> saw a drop of about 50% in total. Its truck sales alone came down by 70% as compared to the year before. The truck manufacturer isn’t the only one to cut production. In fact, the company joins a long line of automakers – Maruti Suzuki, Mahindra &amp; Mahindra, Tata Motors and Hero Motocorp –who announced no production days. In August, Tata Motors’ sales declined by 58%, Maruti Suzuki’s fell by 33%, Mahindra &amp; Mahindra’s fell by 25% while Honda’s fell by 51%. Passenger vehicle sales in India saw their worst ever month, registering its worth ever month in the last two decades. The first quarter results of most auto companies were equally dismal as their revenues and profits both fell. See Also: <a href="https://www.businessinsider.in/business/auto-sales-in-august-see-highest-ever-de-growth-in-19-years-as-it-drops-18-7/articleshow/71045315.cms">Auto sales in August see highest ever de-growth in 19 years as it drops 18.7%</a>

You Searched For "CPPS" and got 7 results

EPS Pensioners to get pension from any bank, any branch, anywhere in India from January 1, announces Mansukh Mandaviya

ANI

Aluminium industry writes to Prime Minister on severe coal shortage

IANS

Coal shortage now at alarming levels, say aluminium producers

IANS

Coal supplies to non-power sector plants may be kept suspended

IANS

Ashok Leyland joins the club of ‘No Production Days’ as its August sales fall by 50%

Sanchita Dash

These 7 Men Owned The Company Linked To CIA Torture

Hunter Walker

These 7 Men Owned The Company Linked To CIA Torture

Hunter Walker