Monday, February 27, 2017

ONGC to invest Rs 7,327 cr; May take control of HPCL to create oil giant

MAHARATNA PSU Oil and Natural Gas Corporation (ONGC) will invest Rs 7,327 crore in developing four oil and gas projects, including the Ratna field which it had got back from Essar Oil. The Board of ONGC approved an investment of Rs 4,104.63 crore in development of R-Series fields including revival of R-12 (Ratna), the PSU said in a statement. Ratna field was discovered in 1979 and put on production in 1983 which continued till 1994. The Government awarded the contract for...

Saturday, February 25, 2017

NTPC not to exit BHEL JV; Govt forms panel to revive it

AFTER getting the board nod last year to exit NTPC   BHEL   Power Projects Pvt Ltd, the Maharatna power giant has now dropped its plan to turn its back on the loss-making joint venture company. The development comes in the wake of the Power Ministry setting up a committee to explore ways to infuse life into the struggling equipment maker for power plants. BHEL Chairman and Managing Director Atul Sobti heads the panel.
“We are no more pursuing that plan of shelving the JV. If need be, we will put more equity into it,” an NTPC source was quoted as telling a leading business portal. The two companies have Rs. 50 crore each as equity invested...

Friday, February 24, 2017

With 50 cr customers SBI to become a global banking giant

COME April 1 and all five associate lenders of SBI will merge with it making SBI a lending giant of global standards. These associate banks include State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad. Among the associate banks, State Bank of Bikaner and Jaipur, State Bank of Mysore and State Bank of Travancore are listed.
SBI informed stock exchanges that the Government of India has issued orders on February 22 under sub-section (2) of Section 35 of the State Bank of India Act to implement...

Thursday, February 23, 2017

State Bank of India website gets rebranded

INDIA's largest lender State Bank of India (SBI) has rebranded its website as bank.sbi. According SBI, the new domain name bank.sbi is the highest domain protocol known as generic top level domain (gTLD), an official statement said.
"The SBI group has several businesses. For those wanting to do banking or want to know about the bank it is easier to type out www.bank.sbi." M.K. Rekhi, General Manager -Social Media.
The SBI group having presence in insurance, mutual fund...

Wednesday, February 22, 2017

Air India to raise $250 mn by putting two Dreamliners on sale: Report

BELEAGUERED national carrier Air India has put on sale two more Dreamliners (Boeing 787-800) to raise $250 million (nearly Rs 1,700 crore) for the repayment of short-term loan availed earlier for purchasing these planes. These two aircraft were delivered to Air India between November last year and January this year.
The state-owned airline would also...

Monday, February 20, 2017

SBI Group fine-tunes plans for VRS: Report

AS THE Union Cabinet has approved the merger of five associate banks with State Bank of India, SBI Group has finalised plans to launch a voluntary retirement scheme (VRS) which could lead to a lower headcount in the number of employees from the total employee base of 73,000 in the associate banks.
The Union Cabinet had last week gave its go ahead to the merger of five associate banks — State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT) — with SBI. While SBI is yet to provide...

Saturday, February 18, 2017

Coal India is notifies for 1319 Management Trainee posts

WORLD's largest coal producer Coal India Limited (CIL) has notified for the recruitment of 1319 Management Trainees. Interested candidates may check the eligibility criteria and apply online from 05-01-2017 to 24-02-2017.
Around 70 percent of the country's total installed power capacity of 250,000 MW is generated using coal as fuel.
Now, the PSU is looking for young, dynamic and talented people to strengthen its work force. The Maharatna PSU and its seven subsidiaries...

Thursday, February 16, 2017

Cabinet nod for merger of SBI with 5 associate banks

AFTER the Union Finance Minister spelled out a policy regarding the merger of PSUs in the Union Budget to create a bigger entity, merger of five associated banks with State Bank of India seemed imminent. On Feb 16, the Union Cabinet approved the merger of State Bank of India with five of its associate banks including State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore. The merger proposal...