PSU NEWS INDIA

Achhe din anne wale hain (English: Good days are coming) was the slogan of the Bharatiya Janata Party (BJP) for the 2014 Indian general election. The slogan was coined by BJP's Prime Ministerial candidate Narendra Modi, indicating that a prosperous future was in store for India if the BJP came into power. After BJP's victory in the election, sayings that include the words "ache din" (good days) have been used both to express optimism or to critically discuss the Modi government. However having come face to face with the grim realities of governing the country the BJP leaders including Narendra Modi. Arun Jaitley, Ravi Shankar Prasad have started arguing that the economic situation is not entirely in their control. Sporadic demonstrations and protests against the hike in rail fares, fuel prices, LPG cylinder prices some natural and most of it sponsored have started taking place all over the country. The demonstrations and protests has somehow proved that peopl

New Delhi: Cutting across political affiliations, parties on Sunday batted for a national trust under the Election Commission to disburse money donated by corporates for political activities while disfavouring direct corporate funding to them. While "70 per cent" of the participants agreed that there was need for state funding of political parties, they insisted that more consultations were required to work out the modalities in this regard.

A rally in the national capital on April 19 against the Narendra Modi government’s land acquisition policy may turn out to be the first public appearance of Congress vice-president Rahul Gandhi after his expected return around mid-April from a two-month long sabbatical at an undisclosed location abroad. During his absence, party president Sonia Gandhi mobilised public opinion and united the opposition against changes made by the Modi government to the 2013 land acquisition law, particularly the dilution of the provision that mandated farmers’ consent ahead of land takeover.

Earlier this year  government restricted  foreign tours of bureaucrats   to four in a year According to the notification  "No officer should undertake more than four official visits abroad in a calendar year. For visits exceeding four by an officer, detailed justification would need to be furnished and such visits would be allowed only in exceptional cases depending on functional need," said an office order. The order further stipulates that travel expenses for officials for participating in conferences, study tours and presentation of papers should be borne by the sponsors. "Proposals for participation in conferences/seminars/ conventions/workshop/study tours/presentation of papers abroad at government cost will not be entertained except those that are fully funded by sponsoring/inviting organisations which may be considered keeping in mind the public interest and the government business at home," the order said. It said that the size of the delegation

Prime Minister Narendra Modi giving yet another six-month extension to Cabinet Secretary Ajit Seth has created ripples in the corridors of power since the latter was a United Progressive Alliance appointee and was seen as the main reason behind the non-performing image of the UPA government at the fag-end of their tenure. Sources in the government say that the main reason why Seth has been given an extension a third time is to ensure that other senior-most bureaucrats in line for the coveted post are deprived, as they are due to retire during the six-month extension tenure. It is also to ensure that the government gets to pick the bureaucrat of its choice for the post. After the third extension to Seth, one of those who will lose out in the race is secretary in the ministry of corporate affairs Naved Masood, who is seen as a very bright officer, a go-getter and a man with a dynamic image. Masood is set to retire in February and sources say the extension is primarily to block him

New Delhi:  Vikas Swarup, the author of Oscar award winning 'Slumdog Millionaire', is most likely to succeed  Syed Akbaruddin  as Foreign Ministry spokesperson, according to reports. Media reports on Thursday claimed that Vikas Swarup is likely to take over on April 18. The appointment order was issued by the Narendra Modi government late on March 25, reports said. Swarup is expected to take charge as the MEA spokesperson after PM Narendra Modi's Europe-Canada tour. Akbaruddin, a 1985 batch Indian Foreign Service officer, is considered an expert on West Asia issues in India and has served in various capacities in that region including being Consul General at Jeddah from 2000 to 2004. He was the director at Foreign Secretary's Office of the Ministry from 2004 to 2005. He has rich experience in nuclear-related issues and was on deputation at the International Atomic Energy Agency (IAEA) in Vienna for four years. Better known as Akbar, he returned to India in 2011

Oil and Natural Gas Corporation Limited (ONGC) has secured the ‘Maharatna of the year’ award in the ‘Dalal Street Investment Journal Public Sector Undertaking Awards 2014’. ONGC got the award in the Non-Manufacturing category. ONGC Director (HR) Desh Deepak Misra received award from the Minister for Railways Suresh Prabhu at New Delhi on 24 March 2015 in presence of Minister of State (Independent Charge) V.K. Singh, Secretary Department of Public Sector Enterprises K.D. Tripathi and several industry leaders, Managing Directors of various top notch public enterprises. Dalal Street Investment Journal (DSIJ) PSU Awards 2014 are based on assessment of financial performance parameters of all the PSUs using a model vetted by KPMG. It is one of the most eagerly awaited events, in which India’s leading public sector enterprises are felicitated and awarded for their performance under various categories such as productivity, efficiency, efficacy, profitability, corporate social responsib

Chennai,     India’s largest mortgage lender State Bank of India (SBI) has decided to lower its stakes in its general insurance joint venture to 51 percent and has decided to begin the process, the bank said on Thursday. In a regulatory filing in BSE the bank said its executive committee of the central board (ECCB) on March 25 decided to initiate the necessary action as per the joint venture agreement for dilution of its stake in SBI General Insurance from 74 percent to 51 percent. SBI said the other partner, Insurance Australia Group (IAG) of Australia would increase its holding in the general insurance company from 26 percent to 49 percent. According to SBI, the process for diluting its holding in favour of IAG would begin as per the joint venture agreement which includes the appointment of valuer to estimate the enterprise value and the price discovery. SBI General is hoping to close this fiscal with a premium of Rs.1,600 crore and increase that by 50 percent next fi

S.R. Sharma, Field General Manager, Punjab National Bank Delhi inaugurated a branch at Subhash Nagar, New Delhi.  On this occasion, addressing the customers, Sharma informed that it is 70 th  Branch of Central Delhi Circle of Punjab National Bank which is being opened during the auspicious period of Navratras. He informed that Punjab National Bank is 2 nd  largest public sector bank and one of the leading banks who are using latest techniques to provide good customer services. He said that since inception our bank is committed to customer service and to satisfy all the aspirations of the customers with the help of latest technologies.  He invited the gathering to get associated with the bank and avail the services of the bank which he assured will be of high standard. P.K. Shrimal, Circle Head, Central Delhi, also welcomed the gathering and requested them to bring more customers to PNB’s fold as it is their own bank.  He informed that the branch is having all the latest facili