So far, the Central Government has made all the right moves as it goes about setting up the National Bank for Financing Infrastructure and Development (NaBFID). But will the newly created entity be able to deliver on its mandate of developing a robust financing ecosystem for the infrastructure sector once it gets operationalised? The Central...
Tag: Central Bureau of Investigation
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Power cos violating coal block norms
Many private power companies in the country were violating the terms and conditions of coal block allocation, the Central Bureau of Investigation (CBI) under the jurisdiction of Supreme Court (SC) and the Union Power Ministry (MoP) have found in their probe. The Ministry suspects that these companies have no intention to sell power to discoms but want to sell it to industries or at exchanges at higher rates.
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No SBI loans to road projects with land issues
Proposed road projects that have not finished the acquisition of the required land for the purpose will not get loans from State Bank of India (SBI). The decision has been taken by SBI on the requisition of Central Bureau of Investigation and Chief Vigilance Commission. SBI is IndiaÂ’s biggest moneylender.
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SC asks govt to reveal procedure adopted for block allocation
Union government was asked by the Supreme Court to explain the procedure and methodology adopted for the allocation of 164 coal blocks. The apex court asked the central government to submit an affidavit, along with supporting material, explaining the above details. The court passed this order after going through the status report submitted by Central Bureau of Investigation (CBI)
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Coal needs telecom treatment
The Comptroller & Auditor-General’s (CAG) report estimates a deemed loss to the exchequer of Rs 1.86 lakh crore because of non-competitive allotment of 149 coal blocks.