The Centre needs to set a high standard in good governance - TopicsExpress

The Centre needs to set a high standard in good governance practices — especially in institutions that manage public money.Recent diktats such as the one asking Coal India to pay a special dividend and directing ONGC and OIL India to purchase a 10 per cent stake in the beleaguered Indian Oil Corporation have been issued primarily for a quick fill of the coffers. The Insurance Regulatory and Development Authority’s recent tweaks to its draft guidelines to enable insurance companies to invest in the soon-to-be launched PSU exchange traded fund, is another blatant attempt to use policyholder money to shore up the Centre’s finances.The life insurer has already invested heavily in offers for sale including NTPC, SAIL, NALCO, MMTC and Hindustan Copper, with many of these investments now sporting losses. thehindubusinessline/opinion/editorial/filling-up-the-coffers/article5770699.ece?homepage=true

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