PSU Current Affairs - 2020

Cabinet Approval: Capital Infusion in three public sector Units OICL, UIICL and NICL

On February 12, 2020, the Union Cabinet approved on capital infusion in three Public Sector Units namely United India Insurance Company (UIICL), Oriental Insurance Company Limited (OICL) and National Insurance Company Limited (NICL). Highlights During the meet the cabinet also approved an immediate release of Rs 2,500 crores in order to address their critical financial Read More…

2020 observed as Year of Mobility by CISF

The CISF observes 2020 as the “Year of Mobility” for the welfare of the troops. It will focus on construction of residential units and implementation of welfare measures. Highlights In the year of 2020, the Central Industrial Security Force (CISF) will aim at creating infrastructure for their families. It will also aim at focusing on Read More…

ONGC overtakes India Oil Corp as Most Profitable PSU

The Oil and Natural Gas Corporation (ONGC) overtook India Oil Corporation (IOC) by regaining crown of being India’s most profitable Public Sector Undertakings (PSU). Key Highlights In the previous two financial years (2016-17 and 2017-18) ONGC had lost the most profitable PSU tag to IOC. In fiscal year 2018-19, ONGC’s net profits increased by 34% Read More…

Proceeds from Disinvestments exceeds Target

The proceeds from the disinvestments have exceeded the disinvestment target for the fiscal 2018-19 by Rs 5,000 crore taking the total proceeds to Rs 85,000 crore against the targeted Rs 80000 Cr. Disinvestments Disinvestment refers to the process of public asset sales by the government of India. Industrial Policy provides that in order to raise resources Read More…

CISF Creates New Guinness World Record

The Central Industrial Security Force (CISF) created a new Guinness World Record for the longest single moving line bicycle parade at the Yamuna Expressway. New World Record The world record was attempted to commemorate the 50 years of the paramilitary force CISF. For creating the World Record the personnel of the central force rode 1,327 bicycles non-stop with a uniform Read More…