Inder Pal Singh Bindra Appointed as CCI Secretary
Indian Revenue Service officer InderPal Singh Bindra will soon take charge as the Secretary of the Competition Commission of India (CCI). Bindra will replace IRS officer Anupama Anand, who has resigned within eight months of joining the regulator.
Bindra’s tenure at the CCI is slated for a period of three years from the date he assumes office. The CCI is tasked with monitoring and curbing unfair business practices while promoting an environment of fair competition.
Competition is the best means of ensuring that the ‘Common Man’ or ‘Aam Aadmi’ has access to the broadest range of goods and services at the most competitive prices. With increased competition, producers will have maximum incentive to innovate and specialize. This would result in reduced costs and wider choice to consumers. A fair competition in market is essential to achieve this objective.
The Competition Commission of India (CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an appreciable adverse effect on competition in India. The CCI looks into cases and investigates them if the same has a negative impact on competition. CCI also approves combination under the act so that two merging entities do not overtake the market. The commission was established on 14 October 2003. It became fully functional in May 2009 with Dhanendra Kumar as its first chairman.
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