Govt mulls entity to revive sick units using CPSEs’ extra cash

News:

• The government is mulling setting up a Finance Corporation to utilise around Rs 2 lakh crore surplus cash of state-owned enterprises lying idle in banks, said Union Heavy Industry and Public Enterprises Minister Anant Geete.
• The funds may be used for purposes like reviving sick PSUs and investment in infrastructure projects.
• The entity may be a joint venture firm funded by seed equity from Maharatna and other cash-rich central public sector enterprises (CPSEs) to administer and manage sick state-run enterprises that can be revived.

Source: ET