Tag: PSU

The finance ministry may assess the capital requirement of public sector banks after the September quarter as there would be greater clarity about a...

The Company received the award for its outstanding contribution in adoption of maximum Digital Technology in the organization’s operations as envisioned in the Prime Minister’s Digital India initiative. Arjun Ram Meghwal, Minister of the Ministry of Heavy Industries and Public Enterprises accompanied by Shailesh Lodha, Indian Actor, gave away the award. R K Srivastav, GM (Admn.); Satish Nangia, GM (IT); Pradeep Sharma, GM (BD); Anurag Verma, AGM seen receiving the award.

In his speech, Dr. Subramanian Swamy stressed that the Public Sectors of India have crucial role to play in shaping New India. He said: “The Public Sectors are important for the development of India and these sectors need to be encouraged to prosper. The PSUs should be given freedom to take decisions and operate in sync with the market dynamics.”He stressed that Public Sectors should move beyond profit making and should focus on the multi-dimensional objectives. There are certain sectors that can be explored and developed by Public Sectors only.PSUs also need to be ready to compete in terms of commercial principles, he added. “India should recognize the strength of the PSUs.” Dr. Swamy said. He also appreciated NALCO’s contribution,as an integrated business entity, towards Indian aluminium sector in particular and Indian Economy as a whole.

The Union Cabinet gave an in-principle approval to pump in Rs 2,500-crore capital into three public sector general insurance companies.

In a recent Capital Market seminar organised by if Confederation of India Industry, SEBI chairman Ajay Tyagi said that of the total 91 listed government companies 45 of them do not comply with the minimum public shareholding norms, which is 25%. He added that such public companies are required to come forward and comply with the norms, thereby increasing their public shareholding norms to at least 25%. Companies need to increase their liquidity and public listing to avoid any disputes in future. He added, “This is something which can be done, and I think should be done. We have conveyed to the government also,”

The state-run, defence Public Sector Unit, Hindustan Aeronautics Limited is on a complete halt since Monday after more than 90 percent of its workforce...