Saturday, October 25, 2014

Govt prescribes timeline in filling up board level appointments in PSUs; wants “strict compliance”

CALLING the delay in filling up board level vacancies in PSUSs “a matter of serious concern”, the secretariat of Appointments Committee of the Cabinet (ACC) in an office memorandum dated October 22, prescribed strict timeline for PESB, ministries concerned, CVC and ACC itself, asking all for “strict compliance”. Accordingly, the PESB or Public Enterprises Selection Board which advises the government on appointments to PSUs’ top management posts, will initiate the process for…

Wednesday, October 22, 2014

Govt may split Coal India into smaller entities

IN VIEW of severe coal shortages putting India's power generation plans at stake, the Union government is set to undertake the restructuring of state behemoth and world's largest coal miner, Coal India Ltd (CIL), by creating multiple mega coal companies in line with...

Tuesday, October 21, 2014

Buoyed from profit after gas price hike, ONGC to sell stake

ONGC CMD DK Sarraf
THE government is likely to sell 5 percent stake in state-run explorer Oil and Natural Gas Corp (ONGC) next month, finance ministry sources said following a meeting of the disinvestment secretary with merchant bankers on October 20.
The union cabinet cleared the stake sale last month.
In view of the new gas rate announced on October 18, which at $6.1 per unit (current $4.2) effective from November 1 will directly benefit oil exploration companies, it is the right time to divest, says...

Monday, October 20, 2014

MTNL gets a lifeline as Cabinet gives nod for financial assistance

BELEAGUERED PSU telecom major MTNL has received a fresh lease of life as the government has approved a DoT proposal for providing one-time financial support to state-run telecom company MTNL for meeting liabilities arising from levy of minimum alternate tax (MAT).
The Cabinet Committee on Economic Affairs (CCEA), which is...

Saturday, October 18, 2014

SAIL Rourkela is hiring; 432 posts up for grabs

STEEL major Steel Authority of India Ltd (SAIL) is in a hiring spree and the PSU has issued recruitment notification of 432 vacancies for operator-cum-technician (trainee), attendant-cum-technician (trainee) and operator-cum-technician (S-3) (boiler operation) posts.
Eligible candidates who can fill up the...

Friday, October 17, 2014

Private players' loss may be gain for NTPC?

FOLLOWING exit by all private companies from the bidding process for two ultra-mega power projects in Odisha and Tamil Nadu, India's largest power producer NTPC has remained as the sole contender for the plants worth Rs 50,000 crore.
The private players including Adani Power, Jindal Power, Sterlite and GMR have written to PFC Consulting, the consultancy firm...

Thursday, October 16, 2014

From November 1, SBI to link free ATM usage to balance, branch visits

THIS may not go well with tens of thousands of small savings bank holders with India's largest public sector bank with SBI saying that it will limit the number of branch withdrawals to four a month for those maintaining balances of up to Rs 25,000.
The bank has reviewed its ATM usage charges, allowing more free...

Wednesday, October 15, 2014

PSU bank staff may come under 7th Pay Panel: Media report

GOOD news for tens of millions of employees of the public sector banks. According to a media report a proposal is likely to be considered to bring them under the purview of the Seventh Pay Commission, which has already been constituted. Even after several rounds...