Monday, November 24, 2014

SBI's recrutment policy set for overhaul; to hire 8000 POs this year

SBI chairman Arundhati Bhattacharya
INDIA'S largest public sector lender State Bank of India is making changes in its hiring policy. Now, the number of people SBI recruit at entry level will be similar to the those who are slated to retire in a particular year.
The new policy aims at streamlining...

Saturday, November 22, 2014

It's final: Government to shut down six sick PSUs completely

CLOSE on the heels of finance minister Arun Jaitley's announcement that the government was willing to consider the privatisation of sick state-run firms, the Centre has finally begun the process of shutting some of them. This may not go down well with tens of thousands of employees of the six sick PSUs who have been pinning...

Friday, November 21, 2014

NTPC hits foreign bond market; raises $500 mn

NTPC CMD AR Choudhury
NTPC, India's largest power generating company, has become first Indian company to tap the foreign currency bond market following government clarification that provisions of the new Companies Act — regarding prospectus and allotment of securities — do not apply to issue of foreign currency bonds by Indian companies.
The PSU raised 500 million dollars from...

Thursday, November 20, 2014

Power ministry supports deferment of headless NHPC stake sale

NHPC's stalled Subansiri project
THE government is all set to begin this year’s disinvestment drive, but the power ministry wants to ‘wait and watch’ on sale of stake in state-run hydel producer NHPC.
The ministry has approached the Department of Disinvestment (DoD) to wait for some more time before...

Wednesday, November 19, 2014

SAIL set to expand its Rourkela steel plant

INDIA'S leading steel producer, Maharatna PSU Steel Authority of India Limited (SAIL) is set to expand the capacity of its Rourkela Steel Plant (RSP). For this, SAIL has sought Odisha government's support for its raw material requirements.
"We have plans to invest Rs 30,000 crore to Rs 35,000 crore for expansion of RSP's capacity from 4.5 mtpa to 10 mtpa by 2025-26. Therefore, we require adequate iron ore and seek support of the Odisha government," SAIL...

Tuesday, November 18, 2014

IOCL is hiring; 100 jobs up for grabs

INDIAN Oil Corporation Limited (IOCL) is India's flagship national oil company with business interests touching the entire hydrocarbon value chain – from refining, pipeline transportation and marketing of petroleum products to exploration & production...

Monday, November 17, 2014

Sick drug making PSUs to get a lifeline from government

IN A bid to revive sick drug making PSUs, the government is working to revive state-owned sick drug manufacturing companies like Indian Drugs and Pharmaceuticals Ltd (IDPL), Hindustan Antibiotics and Bengal Chemicals...

Saturday, November 15, 2014

ONGC to invest Rs 106 bn to increase domestic production

PUBLIC sector oil major Oil and Natural Gas Corp (ONGC) on November 14 posted a 10 percent fall in quarterly profit, its first drop after four quarters of growth. The decline has been ascribed...