The government on Monday said it will kickstart its ambitious Rs 30,000 crore (Rs 300 billion) divestment programme with stake sale in RINL this month.
The Congress-led UPA government has mooted change in norms for appointment of independent directors on board of public sector firms to make even politicians and trade union leaders eligible for the posts.
Public sector banks have performed better than their private sector counterparts in customer service.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Public sector bank employees on Tuesday went on a day's strike all over the country to protest against mergers and acquisition of domestic banks and government's move to allow 74 per cent foreign direct investment in private banks.
ONGC was the top loser in the Sensex pack, shedding around 4 per cent, followed by NTPC, PowerGrid, M&M, Nestle India, SBI and HCL Tech. On the other hand, HUL, Bajaj Auto, Bharti Airtel, Bajaj Finserv were among the gainers.
Since the beginning of 2020, i-bankers have collected nearly Rs 1,800 crore by way of IPO fees. Interestingly, the India fees this year form just 1 per cent of the global fee pool of $13.7 billion from IPOs.
Although private banks continued to operate as usual majority of trade and industry was hit by the strike by staff of 25 nationalised banks who are demanding revision of wages and a second option for pension among other things. The Indian Banks' Association, a grouping of public sector banks, is yet to formally respond to the demands of the striking employees.
As the Indian banking sector is slowly discovering the growth potential of the retail segment, investors need to carefully evaluate the strategies of banks for the retail segment.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
The erstwhile divestment commission to be now be replaced by the BRPSE.
Petroleum Minister Mani Shankar Aiyar on Thursday held discussions with chief executives of public sector oil companies to explore the possibility of merging BPCL and HPCL with ONGC and OIL with IOC to create two oil behemoths.
Capital needs are likely to increase substantially each year.
Officials also said that the move to send out the emails was a conscious choice as part of a communication strategy for public interest.
Sanjib Jha, CEO, Coverfox Insurance Broking, answers your health and auto insurance related queries.
Setting at rest any confusion over rollback of divestment of cash-rich oil companies in the wake of blue chip oil firms taking a beating in the stock market
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
Banks, including country's largest lender State Bank of India, have informed the customers well in advance about the likely inconvenience due to strike.
NTPC was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Titan, SBI, HUL, IndusInd Bank and UltraTech Cement. NSE Nifty advanced 63.15 points to 15,746.50.
Prabhat Kumar from Kishtwar, Jammu and Kashmir explains how his wife Ranjana supported him and kept his family together in difficult times.
The current process for selecting auditors could compromise their "independence".
Meghalaya Chief Minister Conrad Sangma on Thursday said Union Home Minister Amit Shah has given firm assurances at a meeting held in Delhi of acting on his request for a Central Bureau of Investigation (CBI) probe into the 'firing by Assam Police' along the states' border.
The Central Bureau has summoned Trinamool Congress's member of Parliament Abhishek Banerjee's brother-in-law in connection with a case of alleged illegal coalmining from the mines of the Eastern Coalfields Limited (ECL) in West Bengal's Asansol, involving the "kingpin" of the racket, Anup Manjhi, officials said on Friday.
Star Indian sprinter Hima Das has donated her one month's salary to the Assam government to help the state combat the dreaded COVID-19 pandemic. Das, an Asian Games gold-medallist besides being an under-20 World champion in 400m, is employed with PSU major Indian Oil as an HR officer in Guwahati.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
As oil marketing companies (OMCs) stare at huge under-recoveries, India is facing fuel shortage across the country with states like Rajasthan, Madhya Pradesh, Karnataka Uttarakhand, Gujarat and Haryana being the worst hit. The under-recoveries suffered by OMCs are around Rs 20-25 a litre for diesel and Rs 14-18 a litre for petrol, said sources. Government and state-run companies denied reports of any crisis or supply-side issues on the availability of fuel.
Parekh said divestment can unlock huge funds.
The government has increased the dearness allowance for officers and employees of the central public sector enterprises (CPSEs) by 5 per cent, to help them meet the increasing cost of living.The employees and workers of the CPSEs were earlier getting an IDA of 79.4 per cent of the basic pay, which came into effect on April 1.
In April 2004, the ministry had permitted banks to purchase new vehicles for replacement or otherwise on "need basis".
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
Over 210,000 executives in estimated 240 central public sector undertakings are in for a bonanza with a pay revision committee recommending a massive hike in their annual cost-to-company. The hike ranges between 379 per cent at the highest level and 57 per cent at the lowest across companies and levels.
Arun Jaitley addressed a post-Budget press conference.
After the CPI(M), the crucial partner of the ruling UPA government, raised its voice against any attempt to shut down three public sector vaccine manufacturing units, Union Health Minister Anbumani Ramadoss has quickly moved to announce that it will upgrade the units and 'do everything to protect their interest'.
At least two public sector banks Union Bank of India and Indian Overseas Bank have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch. Union Bank has announced a special deposit scheme for 400 days, which offers 9 per cent interest. The scheme was launched much before the announcement of the monetary policy. Chennai-based Indian Overseas Bank has also raised rates for large deposits.
