Indian Railways new initiatives; DMW Patiala organized Vendors meet
Gurjit Singh/ royalpatiala.in/ Patiala
Indian Railways has implemented a new option of making payment to its vendors through an arrangement of Letter of Credit (LC) in Domestic contracts. In order to make the vendors aware of this mechanism, a Vendor meet was organized in DMW/Patiala on 29.01.2020.
Various vendors of Indian Railways particularly from Northern Region participated in the meet. The vendors were enlightened about the procedure and benefits of payment through LC by various speakers from DMW and Som Nath Goel, AGM, Local Chapter of SBI. The vendors were also addressed by Officers from NSIC/Ludhiana and MSME/Ludhiana.
to discuss Indian Railways new initiatives; DMW Patiala organized Vendors meet and during the meet the vendors were addressed by Vivek Kumar, Chief Administrative Officer(R), DMW, H.R. Soni, Principal Chief Materials Manager, DMW and Manjeet Kaur, Principal Financial Advisor.
Vivek Kumar stated that the thrust of the Railway is to make payment to its domestic vendors through LC mode of payment and the response of the vendors during the meet was encouraging.
The Foundation Stone of Diesel Component Works (DCW), Patiala was laid on October 24, 1981 and production started in 1986. A decision was also taken that DCW will do midlife Rebuilding of Diesel Locomotives after a service life of 18 years. Accordingly, Phase-II of the project was sanctioned and the work of Rebuilding started in 1989. The name of DCW was changed to Diesel Loco Modernisation Works (DMW) in July, 2003 to signify the modernisation of Diesel Locomotives being done in the unit.