International BusinessONGC strengthens ethical practices
The public sector Oil & Natural Gas Corporation (ONGC) has cleared the ground for implementing “whistle blower policy” another major voluntary initiative to promote transparency and ethics in personal conduct and decision process.
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Whistle Blower Policy is one of the non-mandatory requirements under Clause 49 of the Listing Agreement with the Stock Exchanges, which very few companies have embraced so far.
In its objective of further empowering its employees and bringing more transparency and ethics in operational practices, ONGC, being a responsible corporate citizen, has voluntarily adopted this policy.
Within the framework of this policy, while ONGC has provided ample opportunities to encourage the employees to become whistle blowers (employees who voluntarily and confidentially want to bring the unethical practices, actual or suspected fraudulent transactions in the organisation to the notice of the competent authority for the greater interest of the organisation and the nation), it has also ensured a very robust mechanism within the same framework to protect them (whistle blowers) from any kind of harm.