Merger: IOC, BPCL want to buy GAIL: Report

TWO Maharatna PSUs Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL) are eager to buy gas utility Maharatna PSU GAIL India Ltd to become fully integrated energy giants. IOC and BPCL have separately indicated to the petroleum ministry their interest in taking over GAIL to help add natural gas transportation and marketing business to their kitty, PTI quoted official sources as saying. GAIL, on the other hand, feels a merger...

Government may merge 27 PSBs into six: Reports

WITH public sector banks (PSBs) reeling under heavy pressure to deal with the problem of bad loans, consolidation is the only solution. This may bring down the number of lenders to about six from the present 27, participants in the recently-held Gyan Sangam, a conference for chiefs of public sector banks and financial institutions.
The time frame for the mergers will ensure there are no disruptions, reported a leading daily quoting official sources. As banks are short-staffed, a downsizing...

Decision on BSNL, MTNL merger to be taken in 4-5 months

THE Centre will take its call on the proposed merger of state-run BSNL and MTNL in the next four-five months, telecom secretary Rakesh Garg said. But there are hurdles before the final merger takes shape.

"BSNL, MTNL merger decision will be taken in four-five months after studying the IIM report on it," he said. The Indian...

Government to focus on M&A of PSU banks in Gyan Sangam

Finance minister Arun Jaitley 

AS THE  two-day 'Gyan Sangam' gets underway on January 2 in Pune, the mergers and acquisitions (M&A) of PSU banks will be high on the agenda of the retreat of chiefs of financial institutions.

The meeting will be attended by...

Will BSNL be back on track with new policy for revenue realisation?

IN A bid to bring beleaguered BSNL back on track, the telcom major has come up with a new policy for realizing the revenue potential of upcoming mobile governance projects launched by governments at central and state levels.

The state-run Bharat Sanchar Nigam Limited (BSNL) thus far was mainly focused in executing...

Will BSNL and MTNL be merged by July 2015?

THE government has for quite some time been talking about the possible merger of twin telecom major: BSNL, MTNL. The once crowning jewels of the government have been facing tough time with successive losses in revenue share to more efficient and more competitive private players.

The plan with the government is that...

SBI set to merge five subsidiary banks into one to fund the economy

SBI chairman A Bhattacharya

THE nation's biggest lender State Bank of India (SBI) will begin the process of consolidation in the banking industry by combining its five associate banks. The move aims at funding the economy in a bid to take the economy into the path of growth. The process will enhance...