"Government is providing all necessary support in terms of financial help or administrative support, but real responsibility lies with the persons heading these units to transform them into a pure profit earning unit," Finance Minister Haseeb Drabu said reviewing the functioning of various PSUs in the state here.
Last month, Finance Minister Arun Jaitley had announced an unprecedented Rs 2.11 lakh crore two-year road map for strengthening public sector banks. The plan included re- capitalisation bonds of Rs 1.35 lakh crore.
Besides reviving credit growth after a period of weakness post demonetisation, the recap plan will help banks wind down their Non Performing Assets (NPAs) or bad loans and take up fresh credit, which should help boost a private capex recovery in India, the report noted.
The Prime Minister's Office (PMO) had asked the think- tank to look into the viability of sick state-run companies. "We have recommended 34 sick PSUs for strategic disinvestment," Kant said at Crisil India Infrastructure Conclave here.
To strengthen capital position of banks for onward lending to private sector, the government yesterday announced that an 'unprecedented' Rs 2.11 lakh crore would be infused in PSBs over two years.
The BBB, chaired by former Comptroller and Auditor General Vinod Rai, wants to “empower the non-official directors of PSBs (public sector lenders) to play the role of independent directors on the same lines as provided in the Companies Act, 2013.”
Adressing an event here, the minister said faster decision making process, good leadership, team work, transparency, and corruption free system are needed for the growth of any company.
The minister said Coal India and Bharat Coking Coal have agreed to set up 12 new coking coal washeries by 2019-20
"The Mourigram terminal is a old one. The terminal is being revamped now as per the guidelines of Oil Industry Safety Directorate (OISD) even as adequate safety measures had been already taken," CGM (OPS) of West Bengal State Office Amitava Majumdar said.
As part of an IIT-Guwahati initiative, Oil India today signed agreements with two start up firms - Innovative Interventions and RD Grow Green - for working in Assam.
“Implement creeping increase in passenger fares’, said one of the pointers, in a dictate issued by the Prime Minister’s office. The passenger’s segment which is very subsidized will see a tiptoeing hike in the tariff from September.
The financial sector registered a loss of Rs 16,770 crore in 2016-17 owing to banking frauds. This was a rise of 72 percent over the last five years, finds an RBI report.
The list would be sent to the Department of Financial Services to get Appointments Committee of Cabinet (ACC) clearance, sources said. The ACC is headed by Prime Minister Narendra Modi.
Of its total holding of 80 per cent in Rashtriya Chemicals and Fertilisers (RCF), the government is selling 5 per cent, or over 2.75 crore shares, at a floor price of Rs 74.25.
MTNL has argued that its mobile licence for the two service areas remained underused in the first four years of the permit's lifespan, for various reasons.
Several transition issues relating to procedures to be followed on registration, migration, refund, credit for duty paid on stock, etc were discussed in detail during the meeting, which was also attended by Revenue Secretary Hasmukh Adhia.
As per guidelines of the Securities and Exchange Board of India (SEBI), government stake in PSUs should be 75 per cent or less by August 2017.
A report by the country's top audit body, tabled in the just-concluded session of the Assembly, shows tardy performance of the state's PSUs.
The Rail Vikas Nigam Limited (RVNL), a railway PSU, has been entrusted with the task of undertaking the final survey for rail connectivity to Chardham - Gangotri, Yamunotri, Badrinath and Kedarnath - through Dehradun and Karanprayag.
"To get higher returns from GoI (Government of India) investments, DIPAM asks CPSEs to follow guidelines on capital restructuring and expedite exemption proposals," DIPAM Secretary Neeraj Kumar Gupta tweeted.
In an interview to CNBC-TV18, Sandeep J Shah, Associate Director of Motilal Oswal Private Wealth Management shared his readings and outlook on specific stocks and sectors.
Coal India paid Rs 12,353 crore as dividend in FY17, a 190 percent payout compared to its net profit in the first nine months of the year. Other state owned firms like NMDC, Nalco, ONGC, NHPC and Bharat Electronics have announced huge dividends in the last two years.
As of 1425 hours, as against 7.73 crore shares offered to institutional buyers, bids came in for over 12.60 crore shares. The share sale for today will continue till the close of market hours.
Commerce Ministry today said it has spent Rs 2,454 crore under various plan schemes, which is 99.45 percent of the allocation -- the highest in last five fiscals.
Steel Minister Chaudhary Birender Singh said the country's steel output is at around 120 million tonnes and the government is aiming to achieve 300 million tonnes by 2030.