Monday, July 25, 2016

Can NITI Aayog prescribe some medicines to ailing PSUs?

NITI Aayog is analysing the sick and loss-making public sector undertakings (PSUs) in the country, Parliament was informed on last Friday. But the big question is can the government's think tank which replaced the earlier Planning Commission provide...

Saturday, July 23, 2016

NHPC inks pact with BHEL for hydro power projects overseas; Board approves raising Rs 4500 cr via corporate bonds

PAVING the way for its overseas forays, state-owned NHPC has entered into a pact with Bharat Heavy Electricals Ltd (BHEL) for undertaking hydro power projects in overseas markets even as the PSU’s board approved raising up to Rs 4,500 crore through issue of corporate bonds on private placement basis.
"NHPC has signed a Memorandum of Understanding (MOU) on July 21, 2016 with Bharat Heavy Electricals Limited (BHEL)," NHPC said in a filing to BSE.
As per the MOU, NHPC and BHEL will look after the...

Friday, July 22, 2016

Four PSUs figure in Fortune 500 list; ONGC dethroned

THE latest Fortune 500 list, which counts world's biggest corporations in terms of revenue, has got the name of seven Indian companies in it including four PSUs. The list is topped by retail giant Walmart, with state-run Indian Oil Corp being ranked the highest-rated Indian firm (161). Other Indian firms in the list...

Thursday, July 21, 2016

Ten things to know about Utpal Bora, new OIL CMD

New OIL CMD Utpal Bora
UTPAL Bora on July 18 took over as the Chairman and Managing Director of Oil India, the country's second-biggest state-owned oil and gas explorer. 
Here are 10 things...

Wednesday, July 20, 2016

13 PSU banks to get Rs 23,000 cr recaptalisation money; SBI biggest gainer

THE government on July 19 said it is releasing Rs 22,915 crore to recapitalise 13 public sector banks, including the biggest lender State Bank of India. The sum is about 92 percent of the budgeted provision of Rs 25,000 crore. The highest amount of Rs 7,575 crore is being released for SBI. Indian Overseas Bank to get Rs 3,101 crore for and Punjab National Bank (PNB) will...

Tuesday, July 19, 2016

States to get more royalty from ONGC and Oil India

THE Central Government on July 18 decided that oil producers would have to pay royalty to crude oil producing states such as Assam, Gujarat, Andhra Pradesh, Rajasthan and Tamil Nadu at pre-discount rates.
"It has been decided that ONGC and Oil India will pay royalty to all similarly placed crude oil-producing states at pre-discount prices effective February 1, 2014, pending the outcome of the special leave appeal filed by ONGC before...

Monday, July 18, 2016

PMO asks NITI Aayog CEO to chalk out detailed plan for one sick PSU

NITI Aayog CEO Amitabh Kant
FOLLOWING a road map prepared by and submitted to the PMO last month by NITI Aayog on strategic sale or closure of some sick PSUs, the Prime Minister’s Office has asked NITI Aayog CEO Amitabh Kant to identify one sick PSU. The man behind the Incredible India mission has been asked to come out with a detailed roadmap for its sell-off...

Saturday, July 16, 2016

Air India no longer to remain sole carrier of government staff: Report

BELEAGUERED Air India may soon lose the tag of being the sole carrier of government employees. The civil aviation ministry is fine-tuning a Cabinet note that will allow them to opt for the cheapest fare, regardless of carrier. Currently, government employees can only use other carriers if there is no Air India option.
"The finance ministry, in one of the review meetings, has asked us to abolish this rule mandating Air India for official flights," a senior...