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Union of India - Section

Section 7 in The Energy Conservation (Partial Risk Guarantee Fund for Energy Efficiency) Rules, 2016

7. Supervisory Committee.

(1)There shall be a Supervisory Committee with the following members; namely:-
i. Director General, Bureau - Ex-officio Chairperson;
ii. Joint Secretary (Energy Conservation), Ministry of Power ornominee - Ex-officio Member;
iii. Joint Secretary (Department of Banking Services), Ministry ofFinance or nominee - Ex-officio Member;
iv. Representative of Non-Banking Financial Companies, preferablyorganisations like Power Finance Corporation or RuralElectrification Corporation at the level of Director or nominee - Ex-officio Member;
v. Representative of a public sector bank such as State Bank ofIndia or Punjab National Bank or Bank of India which has largeenergy efficiency portfolio, at the level of executive directoror nominee - Ex-officio Member;
(2)The supervisory committee shall be the apex body for providing guidance and monitoring progress in Partial Risk Guarantee Fund for Energy Efficiency.
(3)Functions of Supervisory Committee shall be to-
(a)approve and take decisions on matters of policy, modification of rules and participating financial institution compliance as and when they arise;
(b)approve Operations Manual for Partial Risk Guarantee Fund for Energy Efficiency covering detailed role and responsibility of all the stakeholders including implementing agency, participating financial institution, borrower and beneficiary, and other documents required for operationalisation of Partial Risk Guarantee Fund for Energy Efficiency alongwith guarantee approval and guarantee claim procedure;
(c)regularly review the lending performance and process compliance of the empanelled participating financial institutions and take decision on potential de-empanelment of a particular participating financial institution from Partial Risk Guarantee Fund for Energy Efficiency for any reason whatsoever;
(d)shall meet as often as required, but at least once in each quarter to monitor the funds being managed by implementing agency and approve the fund money which would be transferred from Bureau to implementing agency; and
(e)provide requisite guidance to the program office at Bureau, which may improve effectiveness of their functioning and implementation of the Partial Risk Guarantee Fund for Energy Efficiency.
(4)The tenure of the Supervisory Committee shall be co-terminus with the Fund.
(5)The Supervisory Committee shall meet at least once in each quarter to ensure smooth operationalization of the Fund and work with the Bureau.
(6)A notice of not less than seven days, from the date of issue, shall be ordinarily given to the members of each meeting of the Supervisory Committee and the agenda of the meeting shall be circulated to the members, not later than three days before the meeting.
(7)The quorum necessary for transaction of business at a meeting of the Advisory Committee shall be onethird of the total number of Members of the Committee besides the Chairperson.