December 2016 Current Affairs

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Defence Ministry to relook at defence blacklist guidelines

Defence Ministry to relook at defence blacklist guidelines
24 November 2016 Current Affairs: The Union Defence Ministry is planning to relook at defence blacklist guidelines for dealing with global defence firms engaged in corruption in arms deals. 

Thus, under recently released new policy called ‘Guidelines of the Ministry of Defence for penalties in business dealings with entities’ the Union Defence Ministry will “re-ascertain” the list of companies banned from doing business in India. The blacklisting policy was approved by the Defence Acquisition Council (DAC) on November 7, 2016 and the policy was released by the Ministry on 21 November 2016.

The new policy has moved away from blanket banning of blacklisted firms which has adversely affected defence preparedness. Instead of ban, it imposes heavy penalties. It has reduced the period of blanket ban to 5 years from 10 years. 

However the upper limit of the ban period has not been specified. It allows doing business with a blacklisted firm for support of critical spares and maintenance in view of national security. However, it will be through prior approval from the Defence Minister, i.e. the designated competent authority.

Many global defence firms have been banned from doing business in India because of allegations of corruption against them. However, blacklisting such firms has skewed the competition, with the Indian military not able to access many of the global products.

 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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