Tuesday, November 24, 2015

Govt appoints three independent directors on ONGC board

THE government has appointed former IFS Ajai Malhotra and two others as non-official part-time directors on the board of ONGC. The move follows after it sacked three UPA-appointed independent directors on the nation's biggest oil and gas producer’s board almost one year back.
Oil and Natural Gas Corp in a regulatory filing to the Bombay Stock Exchange (BSE) said that...

Monday, November 23, 2015

PSU success story: 'LED' there be light

SCRIPTING a grand success story, a conglomerate of PSUs has registered a phenomenal growth in the production of LED (light-emitting diode) lamps. These lamps are not only eco-friendly but also consume about 80 per cent less energy than incandescent bulbs. Their use has also gone up substantially to three crore per month compared to 10 lakh a year ago. This is thanks to the government's LED lamps...

Friday, November 20, 2015

Good news for PSU employees: 7th Pay Commission recommends 23.55% hike

Chairman of the 7th Pay Commission submitted its report to FM on Nov 19
IN A big post Diwali bonanza, the seventh central pay commission on November 19 recommended a 23.55 per cent hike in the cumulative earnings of serving and retired central government employees, saddling the Union government with a bill of Rs 1.02 lakh crore in the next financial year. The figure of 23.55 per cent covers the increases in pay, allowances and pension.
However, the recommended raise in basic...

Thursday, November 19, 2015

RIP BRPSE: Finally, government decides to wind up the unit

IN A bid to bring the ailing PSUs back on track, the Narendra Modi-led NDA government has decided to wind up the Board for Reconstruction of Public Sector Enterprises (BRPSE) may be on its way out and a new panel might be tasked to revive the sick PSUs. The BRPSE has not been successful in its job assigned by the government. The Centre has shut shop for the BRPSE as part of its new strategy to revive and disinvest sick public sector units.
It was here we reported as early...

Wednesday, November 18, 2015

7th Pay Commission to submit report tomorrow; may propose 15% average hike: Media reports

THE much-awaited 7th Central Pay Commission (CPC) is likely to submit its final report to finance ministry tomorrow that is November 20. The report will be implemented from January 1, 2016. Over 48 lakh serving central government employees and 54 lakh pensioners will be impacted by the 7th CPC, which is likely to recommend an average hike of 15 percent, say media reports. The 900-page report is understood to have made suggestions on parity of 36...

Tuesday, November 17, 2015

Soon MTNL subscribers to get free roaming

GOOD news for MTNL subscribers! The state-owned telecom operator will soon launch free roaming scheme, allowing customers to receive calls at no extra cost while traveling across the country.
BSNL already has such a scheme in place.
At present, MTNL customers have to pay roaming charges for incoming calls when they go outside of Delhi and Mumbai.
MTNL chairman and managing director NK Yadav told a news agency that the scheme...

Monday, November 16, 2015

Finance Minister Arun Jaitley to meet chiefs of PSU banks on Nov 23

FM Arun Jaitley
IN A bid to take stock of the financial conditions of the PSU banks, finance minister Arun Jaitley will meet heads of PSU banks on November 23. He will discuss issues including bad loans and credit flow to productive sectors of the economy.
The performance review meeting of public sector banks will also take stock of the credit flow to productive sectors to spur economy and review of 'Indradhanush' plan. The 'Indradhanush' plan is a seven-point agenda to revive the fortunes of PSBs, an...

Friday, November 13, 2015

More about Indu Shekhar Jha, new Power Grid CMD

THE Centre has appointed Indu Shekhar Jha as CMD of state-run transmission utility Power Grid Corporation of India Ltd for a period of five year.
The top post of PGCIL is considered to be one of the most powerful positions, given the company’s monopoly in the power transmission sector.
Earlier, in September under an interim arrangement, the government had given additional...