PSU NEWS INDIA

Prime Minister Narendra Modi, and leaders of six South Asian countries — Nepal, Bangladesh, Bhutan, Afghanistan, Maldives and Sri Lanka — came together via video conferencing to hail the launch of the communication satellite from Sriharikota in Andhra Pradesh. All the leaders applauded as at 4.57 p.m., the GSLV-F09 rose into the sky from the second launch pad at the Satish Dhawan Space Centre at Sriharikota carrying the satellite. Pakistan had opted out, saying it has its own space programme, forcing a change in the name from Saarc Satellite to South Asia Satellite. In 2014, Prime Minister Narendra Modi tasked the Indian Space Research Organisation (ISRO) to develop a satellite for use by the Saarc countries.  Costing around Rs 235 crore, the satellite has a life span of over 12 years, and its objective is to provide communication applications in Ku-band for the user nations. Bangladesh Prime Minister Sheikh Hasina, Afghan President Ashraf Ghani, Bhutanese Prime Minister Tsher

Dr. Anoop Kumar Mittal, CMD, NBCC has been felicitated with SCOPE Excellence Award for Individual Leadership along with a citation and cash prize of One Lakh by Hon’ble President of India on April 11, 2017. As an expression of his gratitude and welfare of the members of the Armed Forces and Paramilitary Forces, Dr. Mittal donated an amount of Rs.1,00,000/- to Bharat Ke Veer Corpus and handed over a cheque to Shri Rajnath Singh, Hon’ble Minister of Home Affairs on May 05, 2017 in New Delhi. It is pertinent to mention that NBCC under Dr. Mittal’s watch became a ‘Navratna’ company in record 14 months’ time. The Company demonstrated excellent performance and recorded consistent increase in order book with market cap cheered up to Rs.18000 crore as on date. What catches attention is that NBCC’s share price has swollen 14 times since listing in 2012. Company’s revenue increased 24% and profit jumped12% FY 2015-16 in comparison to the previous year. With the commitment to boos

Chennai, May 6  The second unit of the Kudankulam Nuclear Power Project (KNPP) has been shut down due to water and steam leakage, an official said on Saturday. The plant’s operator, Nuclear Power Corporation of India Ltd (NPCIL) said the Unit-II is likely to restart on May 11. “The unit was shut down due to steam and water leakage. We have to first cool the reactor and then set right the system,” H.N. Sahu, Site Director, KNPP told IANS over phone from Kudankulam in Tirunelveli district around 650 km from here. The NPCIL has two 1,000 MW nuclear power plants at KNPP built with Russian equipment. The first unit was shut down on April 13, for annual maintenance and refuelling, a process that would take around two months.

New Delhi, May 4 () The government plans to set up new steel plants on surplus land available with PSUs by forging partnership with private sector to help more than double steel production capacity to 300 million tonnes by 2030. The Cabinet yesterday approved the New Steel Policy that aims to achieve 300 million tonnes of capacity by 2030 with an additional investment of Rs 10 lakh crore. At present, the steel production capacity is 126 million tonnes. "After 12 years, a new policy for steel sector has been approved, which will provide a great boost to the industry and make it globally competitive," Steel Minister Chaudhary Birender Singh told reporters here. Stating that the land acquisition is an issue under the new law, he said the government plans to utilise the surplus land of steel PSUs to set up new plant in joint venture with private companies. "If we have to create steel-making capacity of 300 million tonnes, we cannot wait for long time". He favoured ver

In a major restructuring in the PSU banking space, the government on Friday appointed heads of various public sector banks besides carrying out rejigs at PNB and Bank of India. PNB Managing Director Usha Ananthasubramanian has been shifted to relatively small Kolkata-based Allahabad Bank while head of Bank of India (BoI) Melwyn Rego will move to Syndicate Bank with immediate effect, according to an official statement. According to experts, the changes were made in these two public sector banks after a similar rejig at IDBI Bank because of their non-performance in tackling non-performing assets (NPAs). However, a senior finance ministry official said two changes have been made because the Department of Financial Services wanted to give longer tenure to heads of these two large banks. Last month, NPA-laden public sector lender IDBI Bank head Kishor P Kharat was shifted to Indian Bank. Mahesh Kumar Jain of Indian Bank was shifted to IDBI Bank. Appointments Committee of the Cabinet (ACC),