National Aluminium Company (NALCO), a Navratna CPSE under Ministry of Mines, Govt. of India has  announced to contribute 5% of the CSR funds in the current year to further the Prime Minister's Skill India Mission.

The company has signed an MOU with the National Skill Development Fund (NSDF) and National Skill Development Corporation (NSDC), a PPP operating under the Ministry of Skill Development & Entrepreneurship.

This MOU is a result of an umbrella MOU signed between the Ministry of Skill Development & Entrepreneurship and the Ministry of Mines to work together in multiple areas under this ambitious mission.

All programs undertaken under this agreement will be aligned to the National Skills Qualification Framework (NSQF), an outcome-driven standards system that organizes qualifications according to a series of levels of knowledge, skills and aptitude.

The funds used will be used for skilling of youth and women in operational areas with focus on substantially affected persons, up skilling and certification of persons through the Recognition of Prior Learning (RPL) program in close collaboration with the Skill Council for Mining Sector (SCMS) and the Indian Iron & Steel Sector Skill Council (IISSSC).

As per the agreement, NALCO will contribute approximately Rs.1.3 crores to the NSDF, and NSDC will implement the project through its training partner network and Sector Skill Councils. NALCO will also open up its facilities, provide unused equipment and also lend its expertise through its current and retired staff in supporting successful implementation of this project.

Shares of the company gained Rs 0.45, or 1.2%, to trade at Rs 37.95. The total volume of shares traded was 83,343 at the BSE (2.56 p.m., Friday).