Divestment Current Affairs, GK & News

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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Cabinet Approval: Foreign Direct Investment Policy on Civil Aviation

On March 4, 2020, the Union Cabinet under PM Modi cleared the Foreign Direct Investment Policy on Civil Aviation. According to the policy, 100% FDI is permitted in the air transport services. Earlier only 49% was available for sale to NRIs Benefit The main benefit of the policy is that it will help in divestment ..

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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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The CCEA approved proposal of DIPAM for strategic disinvestment.

The Cabinet Committee on Economic Affairs (CCEA) has recently approved the proposal of Department of Investment and Public Asset Management (DIPAM) for the strategic disinvestment. The approval will help in speedy completion of strategic disinvestment transactions. The department will set up an alternative mechanism comprising of the Finance Minister, Minister for Road Transport and Highways ..

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Government’s clearance to 10.82 percent disinvestment of stake in SAIL

The government has approved 10.82 % disinvestment of its hold in Steel Authority of India (SAIL). The SAIL public offer has got the clearance of the Cabinet Committee on Economic Affairs (CCEA). The share sale process, which will be done through auction route or offer for sale, is projected to generate over Rs 4,000 crore ..

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