PSU

  • Finance Ministry rejects RBI plan to split CMD's post in PSU banks 08-04-2014 06:11 PM

    New Delhi: The Finance Ministry has turned down the Reserve Bank's proposal to bifurcate the post of Chairman and Managing Director in public sector banks saying this position doesn't enjoy absolute powers as is being claimed by some international experts. Rejecting the RBI's proposal to restructure the board of PSU...
  • Five PSUs posted Rs 2,100 cr losses in Financial Year 2013: CAG 28-02-2014 10:18 PM

    Five public sector undertakings in Chhattisgarh incurred losses of about Rs 2,100 crore in the 2012-13 fiscal, largely due to deficiencies in financial management and project execution, the Comptroller and Auditor General of India has said in a report. The report was tabled in the State Assembly on Friday. Of...
  • SC notice to Centre on government employee plea to contest election 28-02-2014 06:09 PM

    Government rules barring its PSU employees from contesting election were on Friday put under judicial scrutiny with the Supreme Court agreeing to examine its validity and issuing a notice to the Centre and the Election Commission on the matter. A bench, headed by Chief Justice P Sathasivam, sought a response...
  • Interim Budget: Government plans to boost PSU banks, may provide Rs 11,200 crore 17-02-2014 03:03 PM

    New Delhi: Finance Minister P Chidambaram on Monday proposed to infuse Rs 11,200 crore in public sector banks to enhance their capital in the next financial year. "In 2014-15, I propose to provide Rs 11,200 crore for capital infusion in public sector banks. They have opened 5,207 branches so far,...
  • Public sector bank staffs on two-day strike from today, operations hit 10-02-2014 02:56 PM

    Cheque clearances and cash withdrawals and deposits in public sector bank branches across the country were hit as employees started a two-day strike on Monday to press for a revision in wages. However, private sector banks such as ICICI Bank, HDFC Bank and Axis Bank were functioning normally because their...
  • PSU banks' two-day strike hit services in Punjab, Haryana 10-02-2014 02:29 PM

    Customers faced inconvenience in Punjab and Haryana as public sector bank employees went on a two-day strike from Monday to press for various demands including wage revision. Agitating bank employees under the banner of United Forum of Bank Unions (UFBU) carried out protest rallies and held demonstrations at several places...
  • Fraud cases of Rs 6,175 cr reported by PSU banks till January 2014 07-02-2014 04:56 PM

    New Delhi: Public sector banks have reported fraud cases of Rs 1 lakh and above amounting to Rs 6,174.83 crore till January during the 2013-14 financial year, Parliament was informed on Friday. For the entire 2012-13, such cases had amounted to Rs 8,232.67 crore; Rs 4,069.80 crore in 2011-12 and...
  • Rajasthan to have world's largest 4,000 MW ultra mega solar power project 29-01-2014 08:10 PM

    Three central ministries on Wednesday joined hands to launch the world's largest 4,000 MW ultra mega solar power project in Rajasthan, a statement said. Six public sector undertakings (PSUs) of the Ministry of New and Renewable Energy, the Ministry of Heavy Industries and Public Enterprises and the Ministry of Power...
  • Govt slaps notice,seeks explanation from NTPC for mine delays 08-01-2014 06:58 PM

    The Coal Ministry has issued a show-cause notice to NTPC for delay in production from Chatti Bariatu South coal block in Jharkhand and sought explanation from the power PSU for making slow progress in another mine in the state. Almost a year ago the government had withdrawn the deallocation of...
  • Sick PSUs get budgetary support for dues, salary payments 26-12-2013 04:21 PM

    The government on Thursday said it will provide Rs.116.86 crore financial aid to 11 loss making or sick central public sector enterprises to enable them pay salary and statutory dues. The Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh gave green signal to the proposal. The aid...
  • PSU banks' staff go on strike, operations hit 18-12-2013 11:11 AM

    Normal banking operations like cheque clearances, withdrawing and depositing of money at branches were hit across the country as employees of public sector banks went on a one-day strike on Wednesday to press for wage revision and other demands. All the members affiliated to nine bank employees and officers unions...
  • Bank in Andhra claims having footage of man resembling Bangalore ATM attacker 25-11-2013 11:53 AM

    Officials of a PSU bank in Andhra Pradesh's Anantapur district on Monday said that they are in possession of CCTV footage of a man resembling the attacker of a woman bank officer at an ATM kiosk in Bangalore on November 19. The footage, captured on November 11 and 12, shows...
  • PSUs need more autonomy, freedom from bureaucratic control:PM 21-11-2013 12:41 PM

    New Delhi: Pitching for public sector enterprises being made more competitive, Prime Minister Manmohan Singh on Thursday said the state-run companies need to be given greater functional autonomy, be freed from bureaucratic control and not shielded from private sector competition. "Going forward, our governments will have to increasingly adopt competition-neutral...
  • Rupee will settle down: P Chidambaram 11-11-2013 05:09 PM

    With the rupee declining to a two-month low of 63 to a dollar, Finance Minister P Chidambaram on Monday assured the domestic currency will stabilise. "Rupee will settle down," he told reporters. In early trade on Monday, the rupee fell to 63.33 to a dollar, its weakest since September 18....
  • Coal Ministry panel agrees to allot 3 coal blocks to mining PSUs 30-10-2013 04:24 PM

    A Coal Ministry panel has agreed to allocate three coal blocks to mining PSUs including Jharkhand State Mineral Development Corp and MP State Mining Corporation Ltd. The three coal blocks are part of 17 mines identified by the ministry for state-owned companies. It had earlier allocated 14 coal blocks to...
  • Coalgate: I have given all reasons for preferring Hindalco over PSU, says Parakh 26-10-2013 11:47 PM

    Former Coal Secretary PC Parakh, who has been charged with alleged irregularities in the allotment of coal mine to Aditya Birla Group, on Saturday, said he had on files given full reasons for preferring Hindalco over a PSU for allocation of the coal block. "All those things were recorded in...
  • Files contain reasons for preferring Hindalco over PSU, says PC Parakh 26-10-2013 05:13 PM

    Former Coal Secretary PC Parakh, who has been charged with alleged irregularities in the allotment of coal mine to Aditya Birla Group, on Saturday said he had on files given full reasons for preferring Hindalco over a PSU for allocation of the coal block. "All those things were recorded in...
  • Top 30 NPA accounts of PSU banks under government scanner: Chidambaram 22-10-2013 04:14 PM

    Concerned over defaults by big borrowers, Finance Minister P Chidambaram on Tuesday said the government is monitoring the top 30 NPA accounts in each PSU bank and asked the lenders to set up separate verticals to recover money from written-off accounts. Talking to reporters after meeting the heads of PSU...
  • IOCL, BPCL, HPCL move SC for modification of Aadhaar order 06-10-2013 05:05 PM

    Three oil PSUs have moved the Supreme Court seeking modification of its earlier order that Aadhaar card is not mandatory and no person should suffer for want of it in getting benefits of government schemes. IOCL, BPCL and HPCL would mention the matter on Monday for urgent hearing before a...
  • Coalgate: Supreme Court expands scrutiny, notice to all mining states 26-09-2013 06:35 PM

    New Delhi: The Supreme Court on Thursday issued notices to seven coal mining states asking them to explain their role in coal block allocation after the Centre washed off its hands in any irregularities, saying that its role was limited to identifying the blocks and rest was done by states....
  • Jairam Ramesh blames 'forcible acquisition' by PSUs for Naxal problem 08-09-2013 07:32 PM

    New Delhi: Coming down heavily on PSUs for displacing tribals, Union Minister Jairam Ramesh on Sunday blamed their actions for growth of Naxalism in many areas and cautioned that the era of "forcible acquisition" was now over. The Union Rural Development Minister said if the new Land Acquisition Act is...
  • 3-day strike by employees will hit production, CIL tells govt 08-09-2013 12:37 PM

    The proposed three-day strike by employees of CIL from September 23 will have adverse impact on coal production amidst shortage of the fossil fuel in the country, the company has informed the central government. "CIL (Coal India Ltd) has written to the Coal Ministry stating that the strike by the...
  • Travel bills scam: CBI probes 9 Rajya Sabha MPs 29-08-2013 04:59 PM

    New Delhi: Armed with documents pointing to large-scale irregularities, the CBI on Thursday began its probe into the alleged involvement of nine Rajya Sabha MPs and Central government employees in the inflated travel bills scam. Two days after CNN-IBN revealed the details of the scam, the CBI is examining the...
  • News 360: Nine Rajya Sabha MPs involved in inflated LTC claim scam 27-08-2013 11:50 PM

    The Indian bureaucracy may be bracing itself for another massive scam and this time it is centred on Leave Travel Concession. ...
  • Nine Rajya Sabha MPs involved in inflated travel bills scam: Sources 27-08-2013 06:12 PM

    New Delhi: The Indian bureaucracy may be bracing itself for another massive scam and this time it is centred on Leave Travel Concession. It was first reported by Times of India, but CNN-IBN has now got specific details on how the Central Vigilance Commission (CVC) has found gross irregularities in...
  • Defence PSUs should be globally competitive, says Antony 26-06-2013 05:58 AM

    New Delhi: Defence Minister AK Antony on Tuesday said that the defence public sector units (DPSUs) need to compete with private organizations and global companies to get orders and should work towards reducing costs and improving quality and productivity. Addressing a meeting of the consultative committee attached to his Ministry,...
  • SAIL chairman hopeful about ICVL buying coal assets abroad 09-06-2013 06:01 AM

    Kolkata: International Coal Ventures Ltd(ICVL), a consortium of leading steel and mining PSUs, has shortlisted four to five coking coal assets abroad for acquisition and could strike deals soon. "At least four to five good assets have been shortlisted. Countries are Australia, US and Mozambique," SAIL chairman CS Verma, who...
  • RBI should release its audit report on the banks: Aniruddha Bahal 06-05-2013 06:39 PM

    Special Investigations website Cobrapost has revealed that 23 banks and insurance companies have been engaged in money laundering. Among the 23 banks involved are mostly PSU banks including some big names like the State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, IDBI, Oriental Bank and Dena...
  • Reconsider Income Tax Act amendment : Modi to Chidambaram 28-04-2013 12:40 AM

    Patna: Bihar Deputy Chief Minister Sushil Kumar Modi has urged the Centre to reconsider amendment in Income Tax Act to disallow levies imposed by state governments on PSUs for imposition and computation of income tax. "The working of the proposed amendment is such that it would give wide discretionary powers...
  • News 360: SFI activist dies in police crackdown on protest 02-04-2013 09:21 PM

    A worker of the Students Federation of India (SFI) died on Tuesday of injuries sustained during clashes with police. ...