Department of Disinvestment Renamed as DIPAM by Union Government [ Current Affairs ]
Union Finance Ministry has issued notification to rename department of investment as DIPAM which is stands for Department of Investment and Public Asset Management. The decision of renaming was taken for proper management of Central government’s investments in equity
- By this renaming, the disinvestment proceeds in central public sector undertakings (PSUs).
Key facts of DIPAM:
- It will work under Union Finance Ministry.
- It is authorized to advise the Union Government in the matters of financial restructuring of PSUs and also for attracting investment through capital markets.
- It will also work related to sale of Union Government’s equity through private placement or offer for sale or any other mode in the former Central PSUs.
- Now Union Finance Ministry will handle all other post disinvestment matters or concerned department in discussion with DIPAM on requirement.
About Department of Investment:
- ‘Invest India’ is the official Investment Promotion and Facilitation Agency of the Government of India which is worked to provide facilities of investments into India.
- It is predicted to be the first point of reference for potential investors.
- The team of domain and functional experts provide sector- and state-specific inputs and hand-holding support to investors through the entire investment cycle from pre-investment decision-making to after-care.
- It provides:
- Location identification
- Expediting regulatory approvals
- Facilitating meetings with relevant government and corporate officials
- Aftercare services that include initiating remedial action on problems faced by investors
- Published on: April 25, 2016