Nikunj Ohri

All stories by Nikunj Ohri

Govt readies portal to speed up Rs 2.5 trn-plus asset monetisation drive

Govt readies portal to speed up Rs 2.5 trn-plus asset monetisation drive

Rediff.com2 days ago

The government has developed an asset monetisation dashboard for monitoring real-time progress of its ambitious Rs 2.5 trillion-plus pipeline, and providing visibility to investors. The portal has been prepared as the government tries to provide a one-stop shop to investors keen on taking over assets of government departments and ministries.

NITI Aayog recommends privatising United India Insurance

NITI Aayog recommends privatising United India Insurance

Rediff.com7 Jul 2021

The NITI Aayog has recommended privatisation of state-owned insurer United India Insurance Company as the government aims to move ahead with its new public sector enterprise (PSE) policy for Atmanirbhar Bharat. The policy think tank has suggested that the public sector insurer be considered for privatisation in the banking, insurance and financial services sector, which has been classified as 'strategic' in the PSE policy, said an official. The policy proposes the "bare minimum" presence of government-owned companies in strategic sectors, and privatisation, merger or closure of remaining public sector undertakings (PSUs).

Govt dials investors ahead of LIC's IPO; embedded value expected by Aug

Govt dials investors ahead of LIC's IPO; embedded value expected by Aug

Rediff.com5 Jul 2021

The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.

'Economy is not bad as it was during the first wave'

'Economy is not bad as it was during the first wave'

Rediff.com11 Jun 2021

'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'

'Economy is not bad as it was during the first wave'

'Economy is not bad as it was during the first wave'

Rediff.com11 Jun 2021

'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'

Is foreign Covid aid reaching the states in time?

Is foreign Covid aid reaching the states in time?

Rediff.com10 Jun 2021

'Technology is streamliming the entire process of aid distribution and making it transparent and digital.'

Fear of unknown grips govt's privatisation plan

Fear of unknown grips govt's privatisation plan

Rediff.com28 May 2021

With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.

Govt may drop plan to decriminalise cheque bounce offences

Govt may drop plan to decriminalise cheque bounce offences

Rediff.com19 May 2021

The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.

Centre may bring PSBs under Companies Act to enable sale

Centre may bring PSBs under Companies Act to enable sale

Rediff.com24 Apr 2021

The government can also individually exempt the PSBs, that are to be privatisated from the two Bank Nationalisation Acts. This will bring such lenders under Banking Regulation Act, and make them companies, reports Nikunj Ohri.

CEOs want strict safety norms, not lockdown to tackle Covid surge

CEOs want strict safety norms, not lockdown to tackle Covid surge

Rediff.com19 Apr 2021

Partial lockdown measures may impact movement of labour & goods, they say.

India sets ball rolling for monetising govt assets

India sets ball rolling for monetising govt assets

Rediff.com16 Mar 2021

The Department of Investment and Public Asset Management (Dipam) has asked ministries, government departments, and public sector undertakings (PSUs) to send a list of assets that can be monetised under the proposed National Monetisation Pipeline. The list will be used for creation of an asset monetisation dashboard, which will keep a track of such assets. The government, meanwhile, has asked CRISIL to prepare a road map for monetising assets of PSUs and government departments.

Govt to bring in legislation to regulate crypto currency

Govt to bring in legislation to regulate crypto currency

Rediff.com17 Feb 2021

Operationalising the ban is being fleshed out: it will entail which cryptocurrencies will be banned and how.

Govt to sell 20% in National Fertilizers, could rake in Rs 410 cr

Govt to sell 20% in National Fertilizers, could rake in Rs 410 cr

Rediff.com11 Feb 2021

The government has revised its divestment target downwards from Rs 2.1 trillion, as its ambitious privatisation programme has been deferred to next year.

Govt set to divest stake in defence PSUs Garden Reach, Mishra Dhatu

Govt set to divest stake in defence PSUs Garden Reach, Mishra Dhatu

Rediff.com9 Feb 2021

The government is set to divest its shareholdings in defence PSUs, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd (MIDHANI). It will also divest its shareholding in BEML Limited, said Shripad Naik. Minister of State for Defence, on Monday. The government has invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control.

How many firms are giving online app-based loans? Govt has no data

How many firms are giving online app-based loans? Govt has no data

Rediff.com9 Feb 2021

The Reserve Bank of India has issued several warnings that the public should not fall prey to such unscrupulous activities and verify the companies offering loans online and through apps.

Cabinet clears policy on PSU privatisation

Cabinet clears policy on PSU privatisation

Rediff.com28 Jan 2021

The policy was part of the Aatmanirbhar Bharat package announced by Sitharaman in May 2020 as a coherent policy where all sectors would be opened for private sector participation.

What Budget has in store for regional rural banks

What Budget has in store for regional rural banks

Rediff.com27 Jan 2021

RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.

How PSUs are caught between govt and markets

How PSUs are caught between govt and markets

Rediff.com25 Jan 2021

State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.

Budget 2021: Centre set to launch e-platform to sell non-core assets

Budget 2021: Centre set to launch e-platform to sell non-core assets

Rediff.com14 Jan 2021

It is estimating that this would help monetise assets worth Rs 10,000 crore.

No getting away from surge in bank NPAs in new year

No getting away from surge in bank NPAs in new year

Rediff.com6 Jan 2021

About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.

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