Public Sector News - Latest Updates & Headlines
Public sector banks' dividend payout rises 33 pc in FY24: Centre
New Delhi, March 23: Public sector banks (PSBs) in India have shown significant financial improvement, as their dividend payouts increased by 33 per cent to Rs 27,830 crore in the financial year 2023-24.
Union Government approves infusion of Rs 11,400 crore for revival of RINL plant
New Delhi, March 22: The Government of India has approved infusion of Rs 11,440 crore as Equity/ Preferential capital in RINL, to sustain the operations of RINL and to keep it as a going concern, a press release from Ministry of Steel said.
Ajit Pawar tables Special Amnesty Scheme Bill for public sector enterprises
Mumbai, March 20: Deputy Chief Minister and Finance Minister Ajit Pawar on Thursday tabled the 'Maharashtra Tax, Interest, Penalty, or Late Fee (Settlement of Arrears Payable by Public Sector Undertakings) Bill, 2025' in the Legislative Assembly.
Public sector emerges as key growth driver for investment banks in India: Report
Mumbai, March 20: Public sector is playing a crucial role in driving growth for investment banks in India, supported by the government's divestment plans and strong domestic inflows, a new report said on Thursday.
Centre elevates IRCTC, IRFC to Navratna status
New Delhi, March 3: The Central government on Monday upgraded the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) to the prestigious status of Navratna Central Public Sector Enterprises (CPSE) as the performance on key parameters such as net profit and net worth of the two companies have risen to meet the required eligibility criteria.
Centre grants Navratna status to IRCTC, IRFC
New Delhi, March 3: The central government has granted Navratna status to two companies -- Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC), Department of Public Enterprises said in posts on X.
Recapitalisation, reforms have worked well for public sector banks: SBI Chairman
Mumbai, Feb 18: Recapitalisation and reforms in the last few years have really worked well for the public sector banks and balance sheets are cleaner now, State Bank of India (SBI) Chairman, C.S. Setty, said on Tuesday.
UAE extends Arab Government Excellence Award for another four years
Dubai, February 16: Under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE Government has extended the Arab Government Excellence Award, in a strategic partnership with the Arab League, for an additional four years.The award aims to advocate and promote enhanced performance leadership within the region's public sector.The agreement was signed by Ahmed Aboul Gheit, Secretary-General of the League of Arab States, and Mohammad Al Gergawi, UAE Minister of Cabinet Affairs and Chairman of the World Governments Summit (WGS), on the final day of the event.
Assam CM distributes appointment letters to 564 candidates
Guwahati, February 16: Assam Chief Minister Himanta Biswa Sarma on Sunday distributed appointment letters to 200 successful candidates of the 2023 Combined Competitive Examination, securing positions in the Assam Civil Service, Assam Police Service, and allied services.
Bank of India raises Rs 2,690 crore via infra bonds at 7.5 pc interest rate
Mumbai, Feb 15: Bank of India (BoI) on Saturday said that it has successfully raised Rs 2,690 crore through 10-year infrastructure bonds at an interest rate of 7.50 per cent.
PSBs highest-ever net profit of rs 1.29 lakh crore recorded, marking 31.3 per cent growth
New Delhi, February 6: Public Sector Banks (PSBs) have recorded the combined net profit surged to an all-time high of Rs 1,29,426 crore during April-December 2024, registering a 31.3 per cent year-on-year (YoY) growth.
Public sector banks post record 31.3 pc surge in net profit in April-December
New Delhi, Feb 6: Public sector banks have shown a significant improvement in key financial parameters during the first three quarters (April-December) of the current financial year (2024-25) with a record net profit growth of 31.3 per cent year-on-year to achieve the highest ever aggregate net profit of Rs. 1,29,426 crore, the Finance Ministry said on Thursday.
Effective steps taken to ensure financial discipline: Himachal Pradesh CM Sukhu
Shimla, January 14: Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu, while chairing the review meeting of the Finance Department here on Tuesday said that the state government was ensuring ideal financial management. He said that the state government has taken effective steps towards financial discipline during its two-year tenure.