New Delhi: (PESB Recommendation) Amitava Sinha is set to be Director (Finance) of Jute Corporation of India Limited (JCI), PSU under the Ministry of Textile. Shina has been recommended by a Public Enterprises Selection Board (PESB) panel on Tuesday. Currently, he is working as Chief Finance Officer (CFO) at MSTC Limited, a PSU under the Ministry of Steel.
Sinha has been recommended for the post of Director (Finance) of Jute Corporation of India Limited (JCI) from a list of three candidates, who were interviewed by the selection panel. Other candidates, who were on the list, were from PEC Limited and Rashtriya Ispat Nigam Limited (RINL).
The post of Director (Finance) of Jute Corporation is vacant since September 12, 2019. As Director (Finance) of JCI, Sinha will be overall in-charge of the finance and accounts of the organisation and he also will be responsible for evolving and formulating policies related to finance and accounts as well as implementation thereof.
Sinha has rich professional experience of Finance and Accounts. He had joined MSTC Limited as Assistant General Manager in 2011. In 2014, he was promoted as Deputy General Manager.
Jute Corporation of India Limited (JCI)
Jute Corporation of India Limited (JCI) is a Miniratna schedule 'C’ CPSE in Trading and Marketing sector under the administrative control of Ministry of Textiles. The company assists jute cultivators in states where the crop is grown. The company also provides minimum price support to promote cultivation. Traditionally the jute trade in India has been controlled by middlemen, with a large difference between what the mills pay and what the farmers receive. The jute industry suffers from wide fluctuations in price and supply due to rapid changes in the area cultivated and to the effects of the weather. High prices one year may lead to over-planting and a glut the next year.
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