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 Mint December 22, 2020 The finance ministry on Tuesday invited expression of interest (EoI) for strategic disinvestment of its entire 63.75% stake in  Shipping Corporation of India Ltd   (SCIL) along with transfer of management control. At current market price, government can raise around   ₹ 2500 crore from the stake sale. As the country’s premier shipping line, SCIL owns and operates around one third of the Indian tonnage and has operating interests in practically all areas of the shipping business servicing both national and international trades. SCIL is primarily engaged in the activates of transporting goods and passengers with its own fleets including bulk carriers, crude oil tankers, LPG carriers, product tankers, container vessels, passenger cum cargo vessels and offshore supply vessels. Government has appointed RBSA Capital Advisers as transaction adviser to manage the strategic disinvestment process. The last date for submission of EoI is 13 February. In 1...

Hindustan Times 14 June, 2020 Posted by: Harshit Sabarwal At present, four public sector banks are under the RBI’s Prompt Corrective Action (PCA) framework, which puts several restrictions on them, including on lending, management compensation and directors’ fees. Privatisation of any public sector bank (PSB) during the current fiscal is very unlikely due to their low valuations and mounting stressed assets amid the Covid-19 crisis, sources said. At present, four public sector banks are under the RBI’s Prompt Corrective Action (PCA) framework, which puts several restrictions on them, including on lending, management compensation and directors’ fees. So, it does not make any business sense to sell these lenders -- Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India -- as there will not be any suitors for them from the private banking space, the sources said.  The government will refrain from distress sale of its entities...