UPPCL denies favouritism, calls allegations ‘baseless'
While the UPPCL said no decision had yet been taken on a separate September 2024 tender aimed at improving financial accounting standards at the division level, the Vidyut Karmachari Sanyukt Sangharsh Samiti alleged that the process was deliberately delayed to favour Grant Thornton.
It was alleged that despite no final decision, the firm had advertised accountant positions in December 2024, mentioning work locations across multiple U.P. discoms.
The committee alleged a 'major scam' in the name of privatisation and demanded the sacking of UPPCL director (finance) SK Narang, accusing him of colluding with private firms. It also questioned why the September 2024 tender, in which Grant Thornton reportedly emerged L1 in technical bidding, was kept on hold for months.
Responding to the charges, Narang, in a written statement, said the tender in question was unrelated to the reforms consultancy and aimed purely at improving accounting quality under Ind-AS norms. 'Both tenders serve distinct purposes and no decision has been taken yet. All actions are in line with due process,' he said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
15 hours ago
- Economic Times
Received approval from board to raise Rs 5,000 cr: Indian Bank MD & CEO
Public sector Indian Bank has received approval from the board to raise Rs 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise Rs 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about Rs 150 crore every Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services."Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around Rs 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save Rs 12 crore per month (around Rs 150 crore per annum)", he explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI."By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he Bank reported a 24 per cent rise in net profit to Rs 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of Rs 2,403 crore in the corresponding quarter of last financial year."The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he the bank's target for this year under the recoveries segment, he said, "We have given guidance of Rs 5,500 to Rs 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered Rs 2,059 crore. It is a good one". The total income of the bank grew to Rs 18,721 crore during the April-June 2025 quarter from Rs 16,945 crore registered in the corresponding quarter of last financial year. PTI
News18
15 hours ago
- News18
MG Comet Becomes Expensive With Price Hike On Battery Rent, Check Details
Last Updated: Now, the interested customers have to pay an extra amount of Rs 15,000. The company has also revised the charges on battery rent under its Battery-as-a-Service (BaaS) programme. The MG Comet has been getting all the praise ever since it was launched in India. A big credit goes to its compact design and spacious cabin. It was introduced under the price bracket between Rs 7.99 lakh to Rs 10.55 lakh (on-road). Now, the model has become expensive as the company hiked the prices on both car and battery rent. Now, the interested customers have to pay an extra amount of Rs 15,000. The company has also revised the charges on battery rent under its Battery-as-a-Service (BaaS) programme. It has been increased from Rs 2.9 per km to Rs 3.1 per km, making it more expensive than ever. Trim-wise Price After the revised price brackets, the MG Comet executive trim now comes at Rs 7.50 lakh, with an increased price of Rs 14,000. Earlier, it used to cost 7.36 lakh. Even the Excite and Excite Fast Charging models fall under the same category, featuring a hiked price by Rs 15,000 each. The former is available at Rs 8.57 lakh, while latter features the price tag of Rs 8.97 lakh. What's New In order to attract more target audience, the company has made some changes to the EV. The model now comes with a rear parking camera and power-folding outside rear view mirrors (ORVMs). expirence. The fast Charging variants now use a 17.4 kWh battery pack, which offers a maximum range up to 230 km on a single charge. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
16 hours ago
- Mint
Received approval from board to raise ₹5,000 cr: Indian Bank MD & CEO
Chennai, Jul 27 (PTI) Public sector Indian Bank has received approval from the board to raise ₹ 5,000 crore during the financial year, a top official has said. The Chennai-headquartered bank reported a capital adequacy ratio of 17.80 per cent for the April-June 2025 quarter, the bank's Managing Director and CEO Binod Kumar said. "Approval is there. We have to raise ₹ 5,000 crore. Not QIP (Qualified Institutional Placement) or by any other instruments. But, I do not think it (fund raise) will be required (immediately). 17.8 per cent (of Capital Adequacy Ratio) is there.., " he told PTI in a brief interaction. During the April-June 2025 quarter, the Capital Adequacy Ratio of the bank rose to 17.80 per cent from 16.47 per cent recorded in the same quarter of last financial year. Besides the fund raising plan, the bank is betting big on its UPI related payments proposal, as it is currently working on developing an IND-UPI application, similar to the services provided by PhonePe, GPay or PayTM. Through such an initiative, the bank would be able to save about ₹ 150 crore every year. Elaborating, Kumar said the bank is developing its own UPI app named 'IND-UPI', a UPI-based payment solution similar to the current PhonePe, GPay or PayTM services. "Right now, our customers are using other UPI apps and we (Indian Bank) have to pay them a fee. Monthly, it will be around ₹ 12 crore. With the IND-UPI payment facility, customers will be able to make payments using our own application and through this we will be able to save ₹ 12 crore per month (around ₹ 150 crore per annum)", he said. Kumar explained that the application is currently used by the senior officials of the bank as a 'Closed User Group' and it would be rolled out to customers soon after getting the approval from NPCI. "By this initiative, we will be able to save a handsome amount. We will be able to pass on the benefits to our own customers like providing incentives whenever they use IND-UPI app to make UPI-transactions," he said. To a query about hiring plans, he replied in the affirmative, stating they have received approval to recruit 3,000 employees during the current financial year across "all levels." "It will be 3,000 people across all levels this year. We are going to do specialised hiring like cyber security, risk specialists, there will be multiple specialised roles," he said. Indian Bank reported a 24 per cent rise in net profit to ₹ 2,973 crore in the April-June 2025 quarter. The bank earned a net profit of ₹ 2,403 crore in the corresponding quarter of last financial year. "The result is in line because earlier the growth has been a challenge for us. But this quarter we have grown in double digit. Earlier we grew in single digit," he said. On the bank's target for this year under the recoveries segment, he said, "We have given guidance of ₹ 5,500 to ₹ 6,500 crore for the year. But in this April-June 2025 quarter itself, we have recovered ₹ 2,059 crore. It is a good one".
