The department of investment and public asset management is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian bourses. This would lead to some delay in the strategic divestment of IDBI Bank.
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Under Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 lakh crore from the markets to meet their capital requirement in line with global risk norms, known as Basel-III.
If you are buying a bond to cater to your regular income needs, check the interest distribution schedule.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Was told that account will be closed if it did not stop providing insurance cover to ships ferrying oil from Iran.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
If the markets regulator has not yet sent an advisory note to Coal India on its chief executive's frequent announcements in the media, it is probably because it is a public sector enterprise.
Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.
Public sector banks have asked the Centre to intervene as talks with bank unions for allowing half of their employees a second chance to opt for pension instead of provident fund have reached a deadlock.
An Asscocham survey reveals that middle-rank employees in public sector units, foreign embassies and academic institutions are satisfied with their jobs driven by limited accountability.
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
In 2003 when the West Bengal government initiated public sector units restructuring programme, it was believed that off loading government's stake in PSUs would deliver effective social welfare programme in the state.
This apart, to further increase capacities, Bharat Biotech has partnered with Indian Immunologicals (IIL) to manufacture the drug substance for Covaxin. The technology transfer process is underway and IIL has the 'capabilities and expertise' to manufacture the inactivated viral vaccines at commercial scale.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
A review of three years' audit reports of CAG showed that the state PSUs' losses of Rs 6,072.96 crore (Rs 60.72 billion) were 'controllable' with better management.
Reckless lending during the three years of the retail credit boom beginning 2003-04 is hurting public sector banks hard.
The move is expected to encourage brokers to sell issues, which have not received a very encouraging response so far.
Even as Union ministers allay misgivings over Agnipath, figures show a meagre 2.4 per cent of the ex-servicemen who applied for a government job could get one as the Centre and the states have been unable to recruit against the reserved quotas. Public sector undertakings (PSUs), ministries, and officials of Sainik Boards have blamed it on the lack of skill among ex-servicemen. They say veterans' inability to qualify in selection exams is one of reasons for this. Also, non-recognition of qualifications obtained from the military are reasons why their recruitment has remained significantly low, pushing them towards low-skill jobs.
Besides, some PSUs that have remote locations are unable to communicate the public offer message to their employees and face various difficulties like opening demat accounts.
HUL was the top gainer in the Sensex pack, spurting around 3 per cent, followed by Infosys, M&M, ITC, SBI, IndusInd Bank, Bajaj Finance, Asian Paints, TCS and Bharti Airtel. On the other hand, Titan, PowerGrid and NTPC were among the laggards.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
FDI rules announced last year changed the criteria of calculating these investments and included American depository receipts, global depository receipts and convertible shares also in that category.
Employees of profit making central public sector units may retire at 60 years against 58 currently, depending on the decision of the administrative ministry.
Public sector undertakings Bharat Earth Movers (BEML), Rural Electrification Corporation (REC), Power Grid Corporation of India and National Hydroelectric Power Corporation (NHPC), are slated to hit the market with their IPOs.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
At present, the rules do not allow the government to shed stake in the four public sector general insurance companies - New India Assurance, United India Insurance, National Insurance and Oriental Insurance.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by NTPC, Tata Steel, ICICI Bank, ITC, Titan and Bajaj Auto. On the other hand, Axis Bank, M&M, Tech Mahindra, Asian Paints and Bajaj Finserv were among the laggards.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
Report points out corporate vulnerability indicators remain elevated.
Hiring demand for the month of October 2021, witnessed a dip of 3 per cent, as compared to September 2021. However, job demand grew 9 per cent sequentially in the past six months showing an optimistic outlook to recovery, said the Monster Employment Index. There has also been a strong year-on-year recovery with a 9 per cent uptick in October 2021 (Oct 2021 vs Oct 2020).
Concerned over the flight of talent from public sector undertakings to private sector, officers of profit making public sector units have threatened to go on an indefinite strike from December 22 seeking higher salaries.
Financial performance, tax issues to be discussed on June 13 meeting.
The wait of seven public sector companies for inclusion in the elite Navratna club seems to be an endless affair, with the meeting of a top body that will vet their case repeatedly getting postponed because of absence of compelling proposals.
The 44-player industry logged assets under management of Rs 26.33 lakh crore in October-end, as compared to Rs 27.04 lakh crore by November end, representing a growth of 3 per cent. Among debt-oriented schemes, overnight funds received flows worth about Rs 20,650 crore, the highest among the fixed-income segment last month.
The Comptroller and Auditor General of India on Friday criticised the previous National Democratic Alliance government for undervaluation of a number of public sector units, including Balco and VSNL, where equity was divested.\n\n
The current employee strength of all state-run banks is about 672,000.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
ONGC retained the top position on the coveted list of 10 most profit-making PSUs, while AirIndia was the biggest loss-making state firm during 2010-11.
