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PSU stake divestment to aid wealth creation

DNMUM390888 | 6/20/2017 | Author : G Chokkalingam | WC :445


It is reported that the government is planning auction route to divest the stake in one of the mid-sized public sector undertakings (PSUs) engaged in the dredging business. Auction route would bring out the true potential in the value of PSUs by promoting healthy competition among the entrepreneurs. It is also for the first time after a couple of decades the government has proposed to go for strategic stake sale in several mid-sized PSUs like BEML, Dredging Corporation, Shipping Corporation of India, etc.
The non-tax revenue of the government is likely to grow at slower pace in the current fiscal due to the fall in revenues from the telecom sector. The Department of Telecom expects its revenue to decline by as much as 38% to Rs
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Srei Group plans to list two companies by March, aims to raise `2,700 crore
DNMUM394716 | 8/18/2017 12:00:00 AM | Author : Sumit Moitra | WC :281

Kolkata: Kanoria family-controlled Srei Group is surely set to get cash-rich by the end of 2017.
The group would execute initial public offerings (IPOs) of two companies -- Bharat Road Network and Srei Equipment Finance - by March, chairman and M
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IT ministry drafts data protection law
DNMUM394717 | 8/18/2017 12:00:00 AM | Author : Mansi Taneja | WC :732

New Delhi: In the first draft of Data Protection and Governance Act, the Union IT and electronics ministry has proposed to put all digital data captured through handheld, desktop or systems manually or through biometric and point of sale (PoS) device
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SBI adds `70,000 cr bad loans on merger
DNMUM394718 | 8/18/2017 12:00:00 AM | Author : Manju AB | WC :409

Mumbai: The merger of five associate banks with State Bank of India (SBI) has brought in about Rs 70,000 crore of bad loans into its balance-sheet, pushing its total gross non-performing assets (NPAs) to Rs 188,069 crore at the end of the first quart
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PNB, HDFC Bank, YES cut savings account rates
DNMUM394719 | 8/18/2017 12:00:00 AM | Author : DNA Money Correspondent | WC :210

Mumbai: Half-a-dozen banks have followed the footsteps of the State Bank of India (SBI) and brought down their interest rates on the savings bank deposits.
Most have kept their savings bank rate at 3.5%, specially for the smaller depositors. The
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