PSUS

rec-ltd-organises-a-health-camp-for-its-employees

REC Ltd organises a health camp for its employees

New Delhi: Owning up its social responsibility, REC Ltd, a Navratna NBFC, organised a health camp for its employees on January 16, 2020 at its corporate office in New Delhi. The camp included eye-checkup and consultation, ENT consultation, audiometry test, gynae consultation, diet consultation, blood pressure and blood sugar tests.


The camp was organised in collaboration with Max Healthcare Super Speciality Hospital. The session is one of the several initiatives the organisation is taking for promoting safety, wellness, productivity and leadership amongst its women employees. It was attended by women employees in large numbers.

17 Jan 2020
financial-situation-of-air-india-untenable

Financial situation of Air India untenable

After facebook post, Air India chairman Ashwani Lohani has warned of flight disruptions and possible invocation of government guarantee because of delays in fundraising and refinance of aircraft debt. The national career is facing a cash crunch due to lack of fund infusion and monthly shortfall of Rs 220 crore in operations.

The aviation major is seeking the government approval to raise Rs 2,000-crore loan and refinance $819-million aircraft debt that would help tide over the financial crisis. “The overall financial situation of the airline is grossly untenable and it may not be able to sustain physical operations in the absence of immediate government intervention and support,” Lohani writes to the civil aviation ministry.

Air India received an offer from a consortium of four banks to refinance the $819 million bridge loan taken for acquiring six Boeing 787 and one Boeing 777 aircraft. The government guarantee in respect to the bridge loan will expire on December 27 and the airline has sought government nod to refinance it before end of the month.

18 Dec 2019
rec-ltd-organises-a-health-camp-for-its-employees

REC Ltd organises a health camp for its employees

By IndianMandarins 17 Jan 2020

New Delhi: Owning up its social responsibility, REC Ltd, a Navratna NBFC, organised a health camp for its employees on January 16, 2020 at its corporate office in New Delhi. The camp included eye-checkup and consultation, ENT consultation, audiometry test, gynae consultation, diet consultation, blood pressure and blood sugar tests.


The camp was organised in collaboration with Max Healthcare Super Speciality Hospital. The session is one of the several initiatives the organisation is taking for promoting safety, wellness, productivity and leadership amongst its women employees. It was attended by women employees in large numbers.

financial-situation-of-air-india-untenable

Financial situation of Air India untenable

By IndianMandarins 18 Dec 2019

After facebook post, Air India chairman Ashwani Lohani has warned of flight disruptions and possible invocation of government guarantee because of delays in fundraising and refinance of aircraft debt. The national career is facing a cash crunch due to lack of fund infusion and monthly shortfall of Rs 220 crore in operations.

The aviation major is seeking the government approval to raise Rs 2,000-crore loan and refinance $819-million aircraft debt that would help tide over the financial crisis. “The overall financial situation of the airline is grossly untenable and it may not be able to sustain physical operations in the absence of immediate government intervention and support,” Lohani writes to the civil aviation ministry.

Air India received an offer from a consortium of four banks to refinance the $819 million bridge loan taken for acquiring six Boeing 787 and one Boeing 777 aircraft. The government guarantee in respect to the bridge loan will expire on December 27 and the airline has sought government nod to refinance it before end of the month.

pfc:-chopra-selected-for-director-post

PFC: Chopra selected for Director post

By IndianMandarins 13 Dec 2019

The public-sector headhunter on Friday selected Parminder Chopra for the post of Director (Finance), Power Finance Corporation (PFC). Presently; he is working as Executive Director, Power Finance Corporation (PFC).

Subject to requisite clearances and ACC approval he may replace N B Gupta; the outgoing Director (Finance) retiring June next year.

pfc:-chopra-selected-for-director-post

PFC: Chopra selected for Director post

By IndianMandarins 16 Dec 2019

The public-sector headhunter on Friday selected Parminder Chopra for the post of Director (Finance), Power Finance Corporation (PFC). Presently; he is working as Executive Director, Power Finance Corporation (PFC).

Subject to requisite clearances and ACC approval he may replace N B Gupta; the outgoing Director (Finance) retiring June next year.

oil-psus:-centre-plans-cutting-stake-in-ioc-to-below-51%

Oil PSUs: Centre plans cutting stake in IOC to below 51%

By IndianMandarins 15 Nov 2019

The Centre is planning to cut its stake in the IOC below 51% to become a minority shareholder which currently holds 51.5 per cent in the oil major. To boost economic growth, the Central government has been on a divestment spree and has been considering cutting stake in several companies. IOC is the third oil company in which the government plans to cut it stakes.

Besides IOC, ONGC is looking to sell its stake in the recently-acquired refiner HPCL to a strategic investor, possibly an overseas oil company, to regain debt-free status of the company existing prior to the expensive buy.

The plan for HPCL follows the government's go ahead to invite a strategic investor for BPCL where the Centre owns 53 per cent stake. The divestment is important from the fiscal math perspective.

India's fiscal deficit at the halfway mark in 2019-20 stood at 92.6% of budgeted estimates, lower than 95.3% in April-September, 2018-19, helped by transfers from the RBI. With muted tax revenues, the government will have to undertake spending cuts and divest to achieve FY20 fiscal target of 3.3 per cent of GDP. 

pec:-none-selected-for-cmd-post

PEC: None selected for CMD post

By IndianMandarins 07 Nov 2019

The public-sector headhunter (PESB) on Thursday did not find any candidate suitable for the post of Chairman & Managing Director, PEC Limited. 
Altogether Three candidates had appeared before selection board for interview.

bccl:-rao-selected-for-the-post-of-director-personnel

BCCL: Rao selected for the post of Director Personnel

By IndianMandarins 04 Nov 2019

The public-sector headhunter (PESB), on Tuesday, selected P V K R Mallikarjuna Rao for the post of Director (Personnel), Bharat Coking Coal Ltd. Presently he is General Manager, Coal India Limited (CIL). Altogether Nine candidates appeared before the selection board for interview.

 

Subject to requisite clearances and ACC approval, Rao will replace R S Mahapatra the outgoing Director (Personnel) who is retiring on May 31, 2020.

air-india:-another-effort-to-sell-out-

Air India: Another effort to sell out

By IndianMandarins 02 Nov 2019

In an attempt to sell national carrier, the government of India has decided to ease norms of sale for Air India however it is still finding it difficult on almost half a dozen issues crucial for the airline's successful disinvestment.

A core group of secretaries pondered over pending issues and resolve them so that the bidding process for Air India could be started by November end. This will be the second effort by the Modi government to disinvest Air India. The government had failed to attract even a single buyer forcing it to abandon the sale process last year.

Holding Expression of Interest (EoI) has been one among them, first stage of bidding, is whether FDI norms have to be relaxed to allow foreign companies to take full control of the airline and extending national carrier status after change in ownership.

While raising FDI limit in domestic airlines beyond 49 per cent for foreign carriers would enthuse carriers like Qatar Airways and Singapore Airlines to participate in the bidding, national carrier status would give right of first refusal to the new owner in seat allocation on international routes.

Transfer of additional debt to the special purpose vehicle (SPV) and future use of brand name Air India are other issues. Around Rs 10,000 crore of additional debt, over and above Rs 29,464 crore decided earlier, is proposed to be moved to Air India Assets Holdings Ltd (AIAHL), the special purpose vehicle of Air India for transferring part of its debt and assets.

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.

Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.