The Government will monitor the work programme at the 74 coal blocks that are to be offered in the first round by March 31, 2015, said Anil Swarup, Secretary, Ministry for Coal, today.
"There will be performance bank guarantees also in place," said Swarup.
Meanwhile, to avoid creation of any monopoly the Government proposes to put a cap on the number of coal blocks any company can bid for,the Secretary said.
The cap will be applicable for both public and private entities. Swarup said details on how the restriction will be imposed are being worked upon.
The Government has put out draft rules for coal blocks auction and allocation.
In the first phase, 74 blocks will be put on offer. The Government will reserve some of these blocks for PSUs and remaining will be put on auction.
Swarup said that the public sector entities can also participate in the auction.
The Government proposes to complete the entire process by March 31, 2015.