Disinvestment Current Affairs, GK & News

Disinvestment

Disinvestment involves the sale or liquidation of assets or subsidiaries. The disinvestment of public sector undertakings involves selling of PSUs’ assets via public offerings or bidding. Such asset sales can either reduce the government’s share or transfer the ownership to a private entity. This is done to improve efficiency of the PSUs’ functioning and reduce ..

The Ashok and 7 other ITDC hotels to be monetised

Under the government’s target of monetising “under-utilized public sector assets”, ‘The Ashok’ 5-star hotel will be leased out to private operators in four years. Key points The Ashok and the Hotel Samrat are among eight India Tourism Development Corporation (ITDC) properties that Finance Minister Nirmala Sitharaman listed in the National Monetisation Pipeline (NMP). Under the ..

Month: 

Category: 

Topics: 

Govt. to sell stakes in LIC in two stages

The government has decided that it might not sell 10% stake in Life Insurance Corp. of India through an initial public offering but instead choosing instead to sell 5 or 6% which will be followed by a second public offering.   Highlights LIC is yet to be concluded but it is estimated that the value ..

Month: 

Category: 

Topics: 

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 ..

Month: 

Category: 

Topics: 

Scheme of Financial Assistance to States for Capex

The Ministry of Finance recently announced that it is to provide Rs 15,000 crores to the states for their Capital Expenditure for 2021-22. This is being provided as interest free fifty-year loan to spend on capital projects. Fresh guidelines have been announced in this regard called the “Scheme of Financial Assistance to States for Capital ..

Month: 

Category: 

Topics: 

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 ..

Month: 

Category: 

Topics: