DIPAM Current Affairs, GK & News

DIPAM

The Department of Disinvestment has been renamed as Department of Investment and Public Asset Management (DIPAM).  Aim of the renamed department is proper management of Central government’s investments in equity and also its disinvestment proceeds in central public sector undertakings (PSUs).  DIPAM will work under Union Finance Ministry. Functions: It has been mandated to advise ..

Strategic disinvestment and transfer of management control in IDBI

The Union Cabinet recently approved the Strategic Disinvestment and transfer of management control in IDBI bank. Current Scenario The Government of India recently holds 45.48% stake in IDBI bank, LIC (Life Insurance Corporation) owns 49.24%. In 2019, LIC infused 21,624 crores of rupees into bank. It is the current promoter of IDBI and GoI is ..

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Somanathan: New Finance secretary

The Expenditure Secretary T V Somanathan was recently designated as the Finance Secretary by the Appointments Committee of the Cabinet. About T V Somanathan Currently he is the senior most officer among all the secretaries in the Ministry of Finance. He is a 1987 batch Indian Administrative Service Officer of Tamil Nadu cadre. Tuhin Kanta ..

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DIPAM and World Bank sign Agreement

On November 16, 2020, DIPAM (Department of Investment and Public Asset Management) signed an agreement with World Bank. Under the agreement, the World Bank will provide advisory services on asset monetization. What is Asset Monetisation? Asset Monetisation is creating new sources of revenue by unlocking underutilized or untilised public assets. What is DIPAM’s Plan on ..

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Government to launch first fixed income ETF of bluechip PSUs

Union Government will launch India’s first fixed income Exchange Traded Fund (ETF) comprising debt securities of large central public sector enterprises (PSUs) by mid-December 2019. It will comprise only AAA-rated papers of the PSU companies. It is expected to have a size of Rs 15,000 crore to Rs 20,000 crore. It is expected to improve ..

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Cabinet approves new strategic disinvestment process

On 4th October, 2019, Cabinet approved new process of strategic disinvestment to privatize selected PSUs – Public Sector Units. The process was approved by PM Modi under which DIPAM – Department of Investment and Public Asset Management operating under Ministry of Finance will be the nodal agency to implement the process. The PSUs to be ..

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