Advocating a robust vigilance mechanism to prevent corrupt practices, Central Vigilance Commissioner (CVC) K V Chowdary on Thursday said such a system along with proper monitoring and review would go a long way in ensuring good corporate governance.
"One needs to remain vigilant and alert in order to be able to precent corrupt practices and misconduct," he said delivering the Foundation Day Lecture of aluminium major Nalco here.
Corruption is not merely bribery but has other forms like nepotism, favouratism, failure to discharge duty diligently and failure to follow the due process of law during tendering, procurement and similar operations and preventive vigilance held the key to check corrupt practices.
Stating that awareness among people regarding corruption and proper governance must be enhanced, he said concrete steps should also be taken to sensitise young boys and girls in schools and colleges.
Steps should also be taken for simplification of rules and procedures for various purposes.
A mechanism should be in place for proper verification and monitoring, he said adding "Our ability to detect a misconduct in real time appears to be low … What is necessary is to bring down the time line."
He also underlined the need for transparency and proper feedback in which whistleblowers can play a role.
The CVC presented the prestigious NALCO Kalidas Awards to Prof Harekrishna Satapathy, Vice-chancellor of Rashtriya Sanskrit Vidyapeetha, Tirupati and Prof Gangadhar Panda, VC of Shri Jagannath Sanskrit Vishvavidyalaya, Puri for their significant contributions in the field of teaching and propagating Sanskrit.
The awards carry a sum of Rs.50,000 for each recipient.