Whistle Blower Portal: IREDA
The Indian Renewable Energy Development Agency (IREDA) has launched a ‘whistle-blower Portal’, as a part of ‘Vigilance Awareness Week 2021’.
- It is a part of IREDA’s “zero tolerance” of corruption. Through this portal, IREDA employees can raise concerns related to fraud, corruption, abuse of power etc.
- IREDA is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- According to the Companies Act 2013, whistleblowing is an action aimed at drawing the attention of stakeholders to instances of unethical practices in an organization.
- A whistleblower can be anyone who chooses to expose wrong practices and has evidence to support the allegations.
- They can be either from within or outside the organization, such as current and former employees, shareholders, external auditors, and lawyers.
- In India, whistleblowers are protected by the Whistleblowers Protection Act, 2014.
- In January 2020, the Securities and Exchange Board of India (SEBI) came out with a new mechanism to reward whistle-blowers and other informants for sharing information about insider trading cases.
- Insider trading is an unfair and illegal practice in the stock market, wherein other investors are at a great disadvantage due to the lack of important insider non-public information about a company.