About MRVC Mumbai Railway Vikas Corporation (MRVC) Ltd. , a Schedule ‘A’ PSU, has been created with an equity ratio of 51: 49 between Ministry of Railway (Mo. R) & Govt. of Maharashtra (Go. M), respectively. MRVC executes projects under Mumbai Urban Transport Project (MUTP), i. e. suburban rail improvement projects for enhancing suburban rail transportation capacity thereby reducing the over crowding and meeting future traffic requirements. 1
IDA PAY SCALE (2 ND PAY REVISION) As per 2 nd PRC (letter no. 2(70)/08 -DPE(WC) dated 26. 11. 2008), IDA Pay scales have been revised in MRVC, however Performance Related Pay (PRP) has not been implemented. 2
Performance Related Pay is contingent to: v Mo. U Ratings of MRVC v Profits of MRVC. v Robust PMS in MRVC. v Remuneration Committee Independent Director. headed by 3
Memorandum of Understanding • MRVC has signed the Mo. U with the Ministry of Railways every year since 2002. • MRVC has been bestowed with the “Mo. U Excellence Certificate” by Hon’ble Prime Minister of India for the year 2008 – 09. • MOU ratings of MRVC in the last four years are as under: 2007 – 08 Very Good 2008 – 09 Excellent 2009 – 10 Excellent 2010 - 11 Very Good 4
5
Profit Before Tax of MRVC (Figures in Crores) 2007 – 08 PBT 2008 – 09 2009 – 10 2010 - 11 2011 – 12 22. 61 17. 63 25. 79 10. 31 22. 71 6
Performance Management System v “Bell Curve Approach” under PMS stipulates that 10% to 15% Executives may be graded “Outstanding / Excellent” and 10% Executives should be graded as “Below Par” which is difficult to be adopted in MRVC. v This difficulty can be appreciated in the background that the officials are taken from Railways on Deputation, on the basis of their excellent ratings. 7
Performance Appraisal MRVC has obtained approval of DPE for exemption of 102 below board level posts from the rule of Immediate absorption up to 30 th June 2013. Looking to the nature of business of the Organization, these posts are filled up from the officials of Railways on deputation basis. Hence Annual Performance Appraisal report procedure, prevailing in Indian Railways, is being followed in cases of such deputationists. 8
Performance Appraisal Contd. However, we have adopted a policy of absorption of the deputationists for the 10% of the cadre, since May 2011. These absorbees are taken into IDA scales. Among the Board level officials, MD and two Directors are in IDA scale. The no. of officials in IDA scales will keep increasing in future. For such IDA officials, PMS system shall be introduced for the year 2012 – 13. 9
Remuneration Committee An Independent Director, Shri. Sujit Kumar Kar has been recently appointed by the Ministry of Railways (w. e. f. 25. 06. 2012). Therefore the Remuneration Committee may be constituted now. 10
THANK YOU 11
Скачать презентацию About MRVC Mumbai Railway Vikas Corporation MRVC Ltd
ec449af2fb9410e12bae62d90bfa507d.ppt