New Delhi: Suresh Madhavan has been given additional charge as Chief Vigilance Officer (CVO) of Jute Corporation of India (JCI). According to an order from the Department of Personnel & Training (DoPT), he has been given additional charge of the post for period co-terminus with his deputation tenure as CVO of MSTC Limited, i.e. up-to April 3, 2022, or till the appointment of regular CVO in JCI or until further orders, whichever is earlier. He is currently serving as CVO of MSTC Limited.
Profile of Suresh Madhavan
Madhavan took over the charge of CVO of MSTC Limited on April 4, 2019. He also heads the vigilance department of the subsidiary company Ferro Scrap Nigam Limited (FSNL). As CVO, he acts as the extended arm of the Central Vigilance Commission (CVC) and oversees the organisation's Vigilance administration.
Jute Corporation of India Limited (JCI)
Jute Corporation of India Limited (JCI) is a Miniratna PSU in trading and marketing sector under the administrative control of the 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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