Procedure followed in its decision making process,

including channels of supervision and accountability

            Rashtriya Ispat Nigam Limited (Visakhapatnam Steel Plant) is a business organisation operating in highly competitive business environment in domestic as well as international steel markets.  Given the dynamic nature of the environment, it is imperative to have speedier decision-making processes to enable the company to quickly respond and siege the business opportunity at right time.  While the company has well laid out processes of decision-making, which includes necessary flexibility in the processes so as to cut short the cycle time.  Generally, the proposals requiring decisions are initiated at the appropriate level of the executives, depending upon the type of decision, financial implication, administrative exigencies etc. Normally, the proposals are initiated by front line executives (up to the level of Manager/Deputy Chief Manger), and vetted by next higher authorities (generally Addl.Chief Manager/Dy.General Manager).  Wherever concurrence of finance is required, the proposal is examined and concurred by finance executives and approved by competent authority as per DOP.   In respect of the proposals which are not within the scope of the powers of CMD, Board Notes are processed for clearance of concerned Functional Director, concurrence of Director (Fin.) and approval of CMD for placing the proposal before the Board for their consideration and decision.

             With a view of minimizing the cycle time for decision-making, efforts are made to clear the file through a minimum levels of 3 to 4 i.e. proposing level, vetting level, concurrence level & approving level.  In some case where there is need for consultation with 2 to 3 departments, committee approach is followed to clear the file instead of routing it through 3 or 4 departments.  Purchase Committee etc. are examples of such decision-making processes.  Within the organisation, the apex decision-making committee is the Committee of Management (COM) consisting of Chairman-cum-Managing Director and other Functional Directors.  Besides this, some time high-powered committees are constituted to take decision on some important matters.  In nutshell continuous efforts are being made to make the processes of decision-making quicker, simpler and qualitative.