- Cabinet Committee on Economic Affairs approved restructuring plan for Hindustan Organic Chemicals Ltd. (HOCL), a loss making and sick PSU under Department of Chemicals & Petrochemicals.
- Plan involves closing down operations of all non-viable plants at Rasayani unit of HOCL except Di-Nitrogen Tetroxide (N2O4) plant which is to be transferred to ISRO. N2O4 plant is of strategic importance as it is the only indigenous source of N2O4 which is used as liquid rocket propellant by ISRO in space launch vehicles.
- Financial implications of plan is Rs. 1008.67 crores, to be met partly from sale of 442 acres HOCL land at Rasayani (618 crores) and balance (365 crores) through bridge loan from Govt.
- HDFC Life signed bancassurance tie-up with Catholic Syrian Bank,to distribute its life insurance products to Bank’s customers.
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We are providing you the ONE POINT MOTES (BANKING AWARENESS)- PART 1 TO 3 in PDF format. Download it and read it at your leisure.
