The inter-ministerial committee has discussed hiving off the pipeline and tower businesses of GAIL and BSNL, for second wave of asset monetisation respectively, and leasing them out to private players.
Budget 2019-20 – announced by incumbent Finance Minister Nirmala Sitharaman – has proposed the enabling provision for the merger of non-life insurance companies by seeking to amend the General Insurance Business Nationalisation Act.
The banking sector is grappling with rising NPAs, which touched Rs 8.99 lakh crore or 10.11 per cent of total advances at December-end 2017. Of the total gross NPAs, public sector banks accounted for Rs 7.77 lakh crore.
A committee comprising of chief executives from central PSUs including BHEL, Hindustan Aeronautics Limited, Indian Oil Corporation, NTPC, SAIL and ONGC will finalise the broad framework of the proposed portal -- Infraa-S.
The write-off in the last six months comes at a time when banks are struggling to resolve many cases of repayment of loans and recover money stuck with corporate defaulters through insolvency proceedings.