India Inc on Thursday said Prime Minister Narendra Modi's acknowledgement of the private sector's role in India's growth, national progress and enhancing the country's prestige globally is a much-needed shot in the arm for entrepreneurs, and the industry must live up to the expectations.
Finance Minister Nirmala Sitharaman on Sunday said a new "coherent" public sector enterprises policy will be formulated that will define strategic sectors which will have not more than four PSUs. Sitharaman said all sectors are open to the private sector while public sector enterprises will play an important role in defined areas. Accordingly, the government will announce a new policy.
Over 3,400 branches of 26 public sector banks (PSBs) have been either closed or merged during the last five financial years due to merger under the consolidation exercise in the banking space, revealed an RTI query.
Official sources in the Finance Ministry said that banks have informed the ministry that they were not ready to wait endlessly to restore health of the beleaguered airline and if attempts to bring in a strategic investor fails or is not completed by June 30, lenders may immediately initiate bankruptcy proceedings against Jet.
RBI Governor Urjit Patel has said the Indian banking system could be better off if some public sector banks are consolidated to have fewer but healthier entities.
The Cabinet Committee on Economic Affairs on Wednesday has given its green signal to go ahead with the listing of five public sector general insurance companies in the stock exchanges. Finance Minister Arun Jaitley said
The public sector banks (PSBs) will need equity worth Rs 1.7 lakh crore by March 2019, which can turn out to be higher on an increased credit growth, a recent Assocham-Crisil joint study has revealed.
Pitching for an end to the government’s role in top-level appointments at state-run banks, RBI governor Raghuram Rajan on Tuesday suggested empowering their boards to take all major governance decisions freely without having multiple "constituencies
New Delhi: To protest against the proposed merger of SBI associates and privatisation of IDBI Bank, a section of public sector bank employees have threatened to go on a nationwide strike beginning tomorrow. "As the
India will have 8-10 very competitive public sector banks once the "dust settles" and the consolidation phase ends, Union Minister Jayant Sinha said on Friday.
New Delhi: The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the closure of three companies of Hindustan Machine Tools (HMT), India's oldest watch making company.HMT Limited, formerly Hindustan Machine Tools Limited, is a
Mumbai: Bankers today expressed hope that the maiden gold bond scheme, launched by Prime Minister Narendra Modi earlier this month aimed at physical buying of the shiny metal, that closes tomorrow, is likely to gross
Chennai: Employees of public sector banks and government-owned non-life insurance companies would go on strike on Wednesday to protest against the anti-trade union and worker policies of the central government, union leaders said on Tuesday."The
New Delhi: The Finance Ministry has called a meeting of public sector bank chiefs on April 28 for planning implementation of large projects, a release said here on Sunday.The meeting has been called in view
New Delhi: Promising financial autonomy to PSU banks, Finance Minister Arun Jaitley Wednesday asked heads of public sector lenders to take commercial decisions without fear or favour.At the same time, he advised banks to facilitate
New Delhi: The government is open to selling more than 51 per cent in certain public sector entities as part of its 'strategic sale' through which it aims to collect Rs 28,500 crore next fiscal,
A study by World Development Journal has revealed that reservations in public sector jobs have not affected the productivity or efficiency rather it has had positive impact in some areas.In this path breaking report, impact
New Delhi: President Pranab Mukherjee Wednesday said the country's public sector enterprises were vital to the 'Make In India' campaign and expressed confidence that they would continue to take the lead in the 'Swachh Bharat'
New Delhi: As public sector bank employees started a two-day strike today seeking higher wages, Finance Minister P Chidambaram said the profit of banks cannot be used only to enhance salaries because there are other
Chennai, Jul 12: Public sector Indian bank has entered into an agreement with SBI Mutual Fund to sell its products.The agreement was signed between SBI Mutual Fund and Indian Bank at a function held today,
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