The government has appointed Ravneet Kaur as the Chairperson of the Competition Commission of India (CCI). There has been no full-time Chairperson for the competition regulator since Ashok Kumar Gupta demitted office in October 2022. CCI Member Sangeeta Verma has been acting as the Chairperson since October last year.
The appointment of Ravneet Kaur, a 1988 Punjab cadre IAS officer, will be for a period of five years from the date of assuming charge or till the date of attaining the age of 65 years or until further orders, whichever is the earliest, as per the order dated May 15. The Chairperson will get a consolidated salary of Rs 4,50,000 per month without house and car.
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About the Competition Commission of India
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 was established on 14 October 2003. It consists of a chairperson and six members appointed by the Central Government. The commission has its headquarters in New Delhi and has four regional offices located in Mumbai, Kolkata, Chennai, and Bengaluru.
The CCI has the following powers and functions:
- To investigate cases of anti-competitive agreements and abuse of dominant position.
- To issue directions to companies to cease and desist from anti-competitive practices.
- To impose penalties on companies for violating the Competition Act.
- To promote competition in the market by issuing guidelines and advisories to businesses.
- To educate consumers about their rights and to protect them from unfair trade practices.
The CCI has played a significant role in promoting competition in the Indian market. It has investigated and taken action against a number of anti-competitive practices, including cartels, price-fixing, and abuse of dominant position. The CCI has also issued a number of guidelines and advisories to businesses to help them comply with the Competition Act.
The CCI has been praised for its work in promoting competition in the Indian market. It has been credited with helping to lower prices, improve product quality, and increase consumer choice. The CCI has also been credited with helping to attract foreign investment to India.
The CCI is an important institution in the Indian economy. It plays a vital role in promoting competition and protecting consumers. The CCI is committed to ensuring that the Indian market is fair and competitive for all businesses and consumers.
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