Wednesday, March 4, 2015

Government may go ahead with privatisation of ailing PSUs

IT WAS expected that finance minister Arun Jaitley might spell out some bail out package for struggling PSUs. And he did outline revival package for the ailing national carrier Air India. Jaitley announed that Air India will get Rs.2,500 crore for 2015-16. The amount was far less than a grant of Rs.4,277 crore sought by...

Tuesday, March 3, 2015

Govt invites applications for top posts in 5 PSU banks; Private sector candidates may also apply

THE department of financial services, Govt. of India has invited applications for the post of managing director and chief executive officer (MD & CEO) in five public sector banks viz. Bank of Baroda, Bank of India, Canara Bank, IDBI Bank Ltd. and Punjab National Bank.
For the first time posts have been thrown open to employees in the private sector as well. The guidelines issued...

Monday, March 2, 2015

State-owned oil majors to pump Rs 76k cr on project expansion

GIVING a major push towards expansion, public sector oil companies including Oil and Natural Gas Corp (ONGC) will pump in over Rs 76,565 crore on the project expansion during 2015-16, up 5 per cent over the previous fiscal.
ONGC, the Maharatna PSU and the nation's most profitable company, will see its capital expenditure rise to Rs 36,249.37 crore as compared with Rs 34,813 crore...

Saturday, February 28, 2015

‘4D’ model for PSU banks outlined in Economic Survey

FM Jaitley fine-tuning the Budget 
THE PSU banks, which are going through tough times, must follow the “4D model” — deregulation, differentiation, diversification and disinterring, the Economy Survey 2014-15 said.
Deregulation and differentiation because of the high level of inconsistency in operation...

Good news for PSU bank employees: 15% salary hike soon

PUBLIC sector lenders and employee unions have finalised at the 10th bipartite settlement for a 15- percent hike compared to a 17.5 percent increase agreed upon in the last negotiation in 2010, says amedia report.
A 15-percent salary hike is on expected lines with most banks providing for a 12-17 percent increase. The largest public sector...

Friday, February 27, 2015

Prabhu announces a separate railway PSU Transloc in Railway Budget; Pitches for JVs with railway PSUs

Railway minister Suresh Prabhu
PRESENTING his maiden Railway Budget on February 26, railway minister Suresh Prabhu announced the formation of a separate railway PSU called TRANSLOC apart from mulling a host of measures to bring the ailing railways back on track.
In his budget speech, Prabhu said: “We propose to set up a PSU - Transport Logistics Corporation of India (TRANSLOC), to develop common user facilities with handling and value-added services to provide end-to-end logistics solution...

Thursday, February 26, 2015

BSNL investing Rs.11,000 cr to improve services: Minister Prasad

STATE-run Bharat Sanchar Nigam Ltd (BSNL) is pumping over Rs.11,000 crore to improve its network and focus on customer care and service delivery for better service quality and installing mobile towers in Naxal-dominated areas.
"BSNL and MTNL are...

Wednesday, February 25, 2015

ONGC Director Shashi Shankar’s Suspension: What’s the complaint and who had complained?

Shashi Shankar (extreme right) during an award function
THE government on Tuesday suspended a director ranked official of state-run oil and gas major ONGC on charges of “gross misconduct while dealing with a tender” of 2011. But who had complained against Shankar and whether he was “fixed” by some vendors? Read on: