The Department for Investment and Public Asset Management (DIPAM) today came out with a Request for Proposal (RFP) to engage an advisor or consultant for creation and launch of the debt ETF. Bids have to be submitted by May 16.
Addressing a CPSE conclave, Modi also suggested that their CSR spend should be focused largely on one specific theme each year.
Railway infrastructure firm Ircon International and warship maker Garden Reach Shipbuilders and Engineers are the other two firms which have filed IPO papers.
"In this manner, the government can extend a hand-holding support to the select sick PSUs that have the potential to turn around and sustain themselves in future," the panel said in a report.
Officials in the Department of Public Enterprises said the prime minister will preside over the conclave to be held on April 9 on the theme of ‘redefining the role and functioning of CPSEs' to realise the New India-Vision 2022.
The three companies together had a market share of 34.73 per cent in 2016-17. While United India Insurance and Oriental Insurance reported loss during the year, the third company posted decline in profit.
"Sometimes it becomes very difficult to stop a fraud by an individual or by a group of people. I think that is one major area where all PSUs and banks have to focus on fraud prevention and risk management policy," the chairman of the apex body of PSEs said at a press conference here.
The major loss making units were Karnataka Neeravari (irrigation) Nigam Ltd, Hubli Electricity Supply Company Ltd and Gulbarga Electricity Supply Company Ltd.
The Prime Minister's Office (PMO) had asked the think- tank to look into the viability of sick state-run companies. The Aayog has already recommended strategic divestment of 40 sick public sector units.
The ETF market corpus stood at Rs 77,897 crore as of December 2017, clocking an average growth of about 40 percent since 2012.
Set up in 1957, the NPCC has to its credit construction of the Wazirabad barrage across river Yamuna in one working season in Delhi, Asia's longest Sir Arthur Cotton barrage on Godavari river in Andhra Pradesh, Singda earth dam and Khuga Dam in Manipur, Maharani barrage in Tripura and others.
The government plans to sell 100 per cent stake in HLL LifeCare Ltd and Indian Medicines Pharmaceutical Corporation Limited (IMPCL) through strategic sale via a two-stage auction process.
The suggestion in the form of a full-page advertisement in national dailies came at a time oil regulator DGH has proposed to the petroleum ministry to sell 60 per cent stake in 15 producing oil and gas fields of the Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to private firms.
The committee consists of members from the Ministry of Steel, PSUs and technical experts, Minister of State for Steel Vishnu Deo Sai said in the Lok Sabha.
"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.