Mines Ministry has approved the framework suggested by SBI Cap for incentivising private companies in exploration of minerals, Parliament was informed on Thursday. Earlier this year, the Geological Survey of India (GSI) had identified 100 exploration blocks for which the ministry had roped in SBI Cap to prepare the modalities for auction of these blocks. SBI Capital Markets (SBI Cap) has been appointed as the consultant by the Ministry for developing the procedural and contractual framework for engagement of private firms in mineral exploration under the provisions of National Mineral Exploration Policy (NMEP), Mines Minister Piyush Goyal said.