New Delhi

Rail Land Development Authority invites bid for Chennai land

New Delhi: The Rail Land Development Authority (RLDA) has invited a Request for Proposal (RFP) for leasing a land parcel at East Tambaram, Chennai. The 3719 square metre land parcel is located along Bharathamadha Street, near Tambaram Sanatorium Flyover. With the reserve price of Rs 8 crore, the land can be used for institutional purpose. “Being well-connected to the railway ...

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2.4 million customers joined Atal Pension Yojana in 2020: Supratim Bandyopadhyay, Chairman, PFRDA

New Delhi: About 2.4 million customers joined the Atal Pension Yojana (APY) in 2020, the Pensions Fund Regulatory and Development Authority (PFRDA) Chairman said on Friday at the CII Insurance and Pensions Summit. “Over 2.4 million new customers have joined the APY this year,” said Shri Supratim Bandyopadhyay, Chairman, PFRDA. Speaking at the summit, the PFRDA Chair listed out the ...

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PFRDA looking to change cost structure for fund managers

Currently, there are eight pension fund managers under NPS, including SBI Pension Funds, UTI Retirement Solutions and LIC Pension Funds. While PFRDA looks to float RFP to attract new fund managers, there will be some entry barriers so that only serious players apply. The Pension Fund Regulatory and Development Authority (PFRDA) will soon come out with a request for proposal ...

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RFP to onboard new Pension Fund Managers by Dec-end, says PFRDA chief

PFRDA Chairman Supratim Bandyopadhyay The Pension Fund Regulatory and Development Authority (PFRDA) will issue the Request for Proposal (RFP) to onboard new Pension Fund Managers (PFMs) by December-end, said the pension regulator’s Chairman Supratim Bandyopadhyay. The proposed RFP will come up with some entry barriers so that only “serious players” can enter, he said at the 22nd CII Insurance and ...

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Cong alleges govt monopolising airports, BJP says transparency ensured

New Delhi, The Congress on Tuesday demanded a probe into the privatisation of six airports in the country alleging violation of rules and corruption, a charge denied by the BJP which said there is complete transparency under the Modi dispensation. Initiating the debate on ”The Aircraft (Amendment) Bill, 2020”, Congress member K C Venugopal alleged that the government was promoting ...

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Prior security clearance may be required to end Chinese links

The government has decided to get prior security clearance of entities placing a price bid for Bharat Petroleum Corporation NEW DELHI: The government has decided to get prior security clearance of entities placing a price bid for Bharat Petroleum Corporation Ltd. (BPCL). The move aims to prevent any last-leg disruption in the bidding process while eliminating any chance of bidders ...

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Govt may divest part of its stake in RITES via OFS FY21

NEW DELHI – The central government is looking to divest a part of its stake in RITES Ltd through an offer for sale in the current financial year ending March, a senior finance ministry official said. “We intend to reduce our stake further in the company since there has been a good response to this particular stock,” the official told Cogencis. ...

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IRCTC slips 3% after reports govt plans to 15-20% sell stake

DIPAM did not disclose the quantum of stake on offer in the Request for Proposal (RFP). NEW DELHI: Shares of IRCTC NSE -0.02 % were under selling pressure on Wednesday after reports that the government plans to sell another 15-20 per cent stake in the company via offer for sale (OFS) and would like to complete the transaction in minimum ...

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Government plans to sell 15-20% in IRCTC via offer for sale: Report

The government currently holds 87.40% stake in IRCTC. In order to meet Sebi’s public holding norm, the government has to lower its stake in the company to 75% New Delhi: The government is reportedly planning to sell 15-20% of its stake in Indian Railway Catering and Tourism Corporation (IRCTC) via offer for sale (OFS). Last month, reports surfaced that government is ...

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BPCL privatisation: Government to provide rules on employee protection, asset stripping later

The Department of Investment and Public Asset Management (DIPAM), erstwhile known as Department of Disinvestment, has issued clarifications on queries raised by potential bidders for the government stake in BPCL New Delhi: The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd (BPCL) to potential acquirers of the company only at a ...

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Companies backed by China bid for DTC’s electric bus tender

Bids by Indian firms that are in partnership with Chinese firms comes in the backdrop of India restricting bidders from countries with which it shares a land border from participating in government tenders New Delhi: China backed firms have bid for Delhi Transport Corporation’s (DTC) marquee order for 300 electric buses, which is to help fight one of the biggest ...

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IL&FS gets NCLT approval for sale of education assets

New Delhi, The National Company Law Tribunal (NCLT) has approved the sale of education assets of debt-ridden IL&FS to Lexington Equity Holdings Ltd (LEHL).           A two-member Mumbai bench of the NCLT approved the sale of IL&FS’s 73.69 per cent stake in Schoolnet India, formerly known as IL&FS Education & Technology Services, to Falafal Technology Pvt ...

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DTTDC sets ball rolling for cultural centre at Vikaspuri depsite residents’ objection

Deputy Chief Minister Manish Sisodia accorded approval for the construction of the complex following the demand raised by SKP. NEW DELHI: Almost a year after its announcement, the Delhi Tourism and Transportation Development Corporation (DTTDC) has invited bids to appoint consultant architectural and engineering planning and design of a cultural complex for Sahitya Kala Parishad (SKP) at Budhela in Vikaspuri. ...

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New Vande Bharat trains likely to have up to 75% local components

The Delhi-Katra Vande Bharat Express that will start its commercial operations from 5th October. The DPIIT’s revised public procurement order was issued on 4 June to foster domestic manufacturing NEW DELHI : The government is likely to mandate 75% local content in the upcoming tender to supply 44 Vande Bharat train sets, in line with the new public procurement policy set by the ...

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Government Should Not Run Airports, Airlines: Union Minister Hardeep Puri

Mr Puri stated he expects that the home air site visitors would attain pre-COVID ranges this yr (File) New Delhi: The authorities shouldn’t be working airports and airways, Civil Aviation Minister Hardeep Singh Puri stated on Sunday, including that he hopes to privatise Air India throughout 2020. His remarks come at a time when the Kerala authorities has opposed the ...

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Bidding For India’s ₹ 55,000 Crore Submarine Project To Start By October: Report

The Indian Navy plans to acquire 24 new submarines, including six nuclear attack submarines, to bolster its underwater fighting capability. Currently, India has 15 conventional and two nuclear submarines (Representational) New Delhi:  India is all set to launch the bidding process for a ₹ 55,000-crore mega project to build six conventional submarines for the Indian Navy to narrow the gap with China’s ...

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India to start bidding process by Oct to procure 6 submarines costing Rs 55,000 cr

New Delhi, India is all set to launch the bidding process by next month for a Rs 55,000-crore mega project to build six conventional submarines for the Indian Navy to narrow the gap with China”s growing naval prowess, government sources said on Sunday. The submarines will be built in India under the much-talked-about strategic partnership model that allows domestic companies ...

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Murugappa Group set to win Swiss challenge for CG Power after no fresh bids, say sources

Chennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 56.6 per cent stake. The Group holds diversified interests in abrasives, engineering, farm inputs, sugar, confectionery, plantations, bio-products, chemicals, nutraceuticals, insurance and financial services. New Delhi: Exactly a year after founder Gautam ...

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HC expresses concern over steep increase in insurance policies premium for advocates

New Delhi, The Delhi High Court has expressed concern over the sudden “steep” increase in the premium of insurance policies by government companies for lawyers and said this would completely defeat the purpose of the Chief Minister”s Advocates” Welfare Scheme. The court perused a status report filed by the Delhi government, which showed that after the opening of the financial ...

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Govt may sell stake in Rail Vikas Nigam via OFS by Dec

NEW DELHI – The central government may disinvest a part of its stake in Rail Vikas Nigam Ltd through offer for sale by the end of Oct-Dec, a senior finance ministry official said. Department of Investment and Public Asset Management will soon invite bids to appoint merchant banks for the stake sale. COGENCIS EXCLUSIVE “We intend to reduce our stake in ...

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