Improved e- Reverse auction & Auto-refund of EMD-Coal India ltd.
Though the reverse auction process was introduced for selected items of procurement several years back, the process has been improved and standardized based on gathered experience. This process has been expanded to procurement of all kinds above Rs One crore. In a single procurement of explosive in 2014, savings of Rs 648 cr was done.
On-line auto refund of EMD to the unsuccessful bidders has been implemented successfully so that once the successful bidder is decided, others get refund without applying for the same within a day.