Public Sector | Corporate Law Reporter

Union Budget – 2013-14 Interest Subvention Scheme

RBI/2013-14/398 RPCD.No.FSD.BC.71/05.04.02/2013-14 December 4, 2013 To, The Chairman / Managing Director All Public & Private Sector Scheduled Commercial Banks Dear Sir Union Budget - 2013-14 Interest Subvention Scheme As directed by the Government of India and in pursuance of the budget announcement made by the Finance Minister relating to the Interest Subvention Scheme 2013-14, Interest subvention… Read More

Tags: Bank, Government of India, Interest, Kisan Credit Card, Loan, Public sector, Reserve Bank of India, Statutory auditor

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks

Government Decides in Principle to Enhance the Amount of Capital to be Infused into Public Sector Banks; Additional Amount of Capital to be Provided to Enable Banks to Lend to Borrowers in Selected Sectors at Lower Rates to Stimulate Demand; Expected to Give a Boost to Capacity Addition, Employment and Production The Central Government has decided in… Read More

Tags: Bank, Durable good, Government, P. Chidambaram, Public sector, Raghuram Rajan, Reserve Bank of India, Run batted in

Guidelines on CSR and Sustainability for the Central Public Sector Enterprises

The Government has said that the Corporate Social Responsibility (CSR) & Sustainability Guidelines for the Central Public Sector Enterprises (CPSEs) may have to be modified to align with the provisions of the Companies Bill, recently passed by the Parliament, once enacted and notified. Giving this information in written reply to a question in the Rajya… Read More

Tags: corporate social responsibility, CSR, Government, Memorandum of understanding, Praful Patel, Public sector, Rajya Sabha, Sustainability

Policy for Wage Negotiations for the Workmen in Central Public Sector Enterprises

Recently, Government has formulated policy for the 7th Round (2nd part) of wage negotiations for workmen in Central Public Sector Enterprises (CPSEs) based on consultations among various central ministries/ departments and other organisations. Giving this information in written reply to a question in the Rajya Sabha today, Shri Praful Patel, Minister of Heavy Industries &… Read More

Tags: Central Public Sector Enterprise, Government, India, Labor, Praful Patel, Public sector, Rajya Sabha, Wage

Gross Non-Performing Assets of Public Sector Banks

As per provisional data received from the Reserve Bank of India (RBI), the Gross Non-Performing Assets (NPAs) of Public Sector Banks (PSBs) as on 30th June 2013 was Rs. 1,76,009 crore. The Gross NPAs of PSBs were Rs. 1, 12,489crore in March 2012 and Rs. 1, 55,890 crore in March, 2013. Although the Non-Performing Assets (NPAs) of the bank has shown a… Read More

Tags: Bank, Finance Ministry, India, Non-performing asset, Public sector, rbi, Reserve Bank of India, Run batted in

Interest Subvention Scheme Extended to the Private Sector Banks from 2013-14

Additional Interest Subvention Scheme of 3% for Farmers also Extended to 2013-14 In order to provide credit to farmers at affordable rates, the Government of India has, since 2006-07, been implementing the Interest Subvention Scheme under which short-term crop loans upto Rs. 3 lakh are made available to the farmers at an interest rate of… Read More

Tags: Government of India, India, Interest, Loan, Public sector, Rupee, Scheme, Subsidy

Master Circular on Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS)

RBI/2013-14/85 RPCD CO GSSD.BC. No. 04/09.03.01/2013-14 July 01, 2013 The Chairman/ Managing Director All Indian Public Sector Banks (Excluding RRBs) Dear Sir, Master Circular on Self Employment Scheme for Rehabilitation of Manual Scavengers (SRMS) Reserve Bank of India had issued instructions in April 2008 to banks regarding operationalisation of the Self Employment Scheme for Rehabilitation… Read More

Tags: Business, General manager, India, June 30 2013, Master Circular, Public sector, Reserve Bank of India, Run batted in, Scheme

Clarification of Definition of MSE Owned by SC/ST Entrepreneurs

The Government introduced Public Procurement Policy for Micro and Small Enterprises (MSEs) Order, 2012 which is notified under MSMED Act 2006. The Public Procurement Policy mandates every Central Ministries/Departments/CPSUs to set an annual goal for procurement from the MSE sector from the 1st April 2012 with objective of achieving an overall procurement of minimum 20% of… Read More

Tags: Audit and Purchasing, Contract, Economy, Government, Government Procurement, MSE, Procurement, Public sector

Disinvestment of 5 percent paid up equity in Neyveli Lignite Corporation Ltd.

The Cabinet Committee on Economic Affairs today approved the disinvestment of 5 percent equity of Neyveli Lignite Corporation (NLC), out of its holding of 93.56 percent through an Offer For Sale (OFS) in the domestic market according to Securities and Exchange Board of India (SEBI) rules and regulations. The authorized capital of NLC is Rs. 2,000… Read More

Tags: Coal Ministry, India, Navratna, Neyveli Lignite Corporation, NLC, Public sector, Securities and Exchange Board of India, Tamil Nadu

MoD Promulgates Defence Procurement Procedure- 2013

The Ministry of Defence has promulgated the Defence Procurement Procedure 2013. The new procedure which takes effect from today, aims to balance the competing requirements of expediting capital procurement, developing a robust indigenous defence sector and conforming to the highest standards of transparency, probity and public accountability, while laying a strong emphasis on promoting indigenisation… Read More

Tags: Arms industry, Defence Ministry, DPB, DPP-2013, Government, India, Procurement, Public sector

Action against Various Officers/Employees for Violation of Banking Norms and Regulations

In connection with Cobrapost, Red Spider 2 Expose which was released yesterday, Shri Rajiv Takru, Secretary, Department of Financial Services (DFS), Ministry of Finance had asked the Chairman cum Managing Directors (CMDs) of various Public Sector Banks (PSBs) and Life Insurance Corporation (LIC) of India for an immediate action in the matter. Beside above, the… Read More

Tags: Bank, Cobrapost, Financial services, India, Insurance, Life Insurance Corporation of India, money laundering, Public sector

CLR Snippets | Dividend by the Cental Public Sector Enterprises

The dividend by the Cental Public Sector Enterprises (CPSEs) is declared after the finalization, audit and adoption of their annual accounts by the Boards and subsequent approval of Shareholders in Annual General Meetings. Giving this information in written reply to a question in the Lok Sabha, Shri Praful Patel, Minister of Heavy Industries & Public… Read More

Tags: India, Lok Sabha, Ministry of Heavy Industries & Public Enterprises, Praful Patel, Public sector, Rajya Sabha, Shri Praful Patel

President Speak :: CPSEs have potential for Investments for capacity Expansion and Strategic Assets Creation

Central Public Sector Enterprises have the Potential to make Investments for capacity Expansion and Strategic Assets Creation PRANAB MUKHERJEE The President Confers the SCOPE Meritorious Awards on the Public Sector Day Shri Pranab Mukherjee, President of India, presented the SCOPE Meritorious Awards in Specialized Fields to the Central Public Sector Enterprises (CPSEs) here today on… Read More

Tags: Department of Public Enterprises, Government of India, India, International Coal Ventures Private Limited, Navratna, Praful Patel, Public sector, Shri Praful Patel