Parliamentary panel rebukes India’s coal ministry for irresponsibility in provident fund issues

A parliamentary panel has questioned the coal ministry for not taking due care of its responsibility as a watchdog for Coal Mines Provident Fund Organisation (CMPFO). The panel has stressed that financial irregularities could have been avoided if the government had been vigilant enough in monitoring the activities of CMPFO. CMPFO is a body that […]

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Mismanagement by state-run energy firms cost India Rs 169 crore: CAG

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In a report tabled in the parliament, the Comptroller and Auditor General (CAG) noted that BHEL suffered a loss of 3.83 million euros (Rs 28.35 crore) as Turkey-based Electrik Uretim AS Genel Mudurlugu (EUAS) encashed BHEL’s performance bank guarantee after the state-run firm failed to submit the requisite documents on time. EUAS also terminated BHEL’s […]

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Morning Masala

Here is what others are talking about this morning. Asian stocks fragile as commodity rout stokes demand worries Asian stock markets risked slipping to two-month lows on Wednesday as crumbling oil prices took a toll on energy and resource shares, with cooling demand from China putting more pressure on resources-reliant economies. Oil prices edge up […]

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