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Senior officials of the defence ministry and PSU BEL ink the mountain radar deal in New Delhi on Tuesday NEW DELHI: The defence ministry has inked a major capital acquisition contract with PSU Bharat Electronics Limited (BEL) for the procurement of two mountain radars, including associated equipment and infrastructure, for the Indian Air Force, at…
Government head-hunter Public Enterprises Selection Board (PESB) has recommended Ashok Kumar Panda, Director (Finance) at Steel Authority of India Ltd (SAIL), for the post of Chairman and Managing Director (CMD) at the state-run steel major, PTI reported.Panda was among 10 shortlisted candidates interviewed for the top post at India’s largest public-sector steel-making entity.The position will…
NEW DELHI: The Centre aims to raise nearly Rs 1.8 lakh crore through equity divestment in state run firms led by initial public offers (IPOs) over the next four years as part of the second phase of the national monetisation plan, data released by govt’s policy think tank Niti Aayog showed.The National Monetisation Pipeline (NMP)…
The government currently has no roadmap for mergers among public sector banks, Finance Minister Nirmala Sitharaman said, indicating that consolidation is not under active consideration even as a new banking reform panel is set to review the sector’s future.“I am not familiar with any roadmap…there isn’t one,” Sitharaman said in a media briefing after her…
BENGALURU: Bengaluru-based space start-up GalaxEye has signed a channel partnership agreement with Space PSU NewSpace India Limited (Nsil), marking the first time the State-owned company has partnered with a domestic private player to distribute satellite data.Under the agreement, Nsil will resell high-resolution OptoSAR data generated by GalaxEye’s own satellites. GalaxEye’s upcoming spacecraft will be folded…
State Bank of India (SBI) has overtaken Tata Consultancy Services (TCS) to become India’s fourth-largest listed company by market capitalisation, supported by a sharp post-results rally and improving sentiment around public sector banks.SBI’s market capitalisation now stands at nearly Rs 10.92 lakh crore, ahead of TCS at about Rs 10.52 lakh crore, according to an…
Public sector banks (PSBs) are expected to cross the Rs 2 lakh crore combined profit mark in the current financial year, buoyed by strong balance sheets, steady credit expansion and improved asset quality, Financial Services Secretary M Nagaraju said.Speaking to PTI in an interview, Nagaraju said the Indian banking system remains resilient, supported by regulatory…
The Centre is budgeting a record Rs 3.2 lakh crore in dividends from the RBI and public sector banks in 2026-27, creating a strong non-tax cushion to keep the fiscal deficit in check.For 2025-26, the govt has raised the dividend estimate to Rs 3.04 lakh crore, up Rs 44,590 crore from the budgeted Rs 2.56…
Govt may consider reducing its stakes in PSUs from the currently mandatory 51% to 26% and yet keep effective control of management of the company, says the Survey. This could be done through an amendment to the Companies Act, which stipulates that to mark a company as a ‘govt company’, govt must have a 51%…
MUMBAI: Employees of public sector general insurers, RBI and Nabard will receive a collective Rs 11,640-crore payout after the Centre approved a retrospective wage, pension reset covering serving and select former staff.State-owned general insurers take the bulk: Rs 8,170 crore, followed by RBI at Rs 2,697 crore and Nabard at around Rs 773 crore, factoring…
