DIPAM - General awareness questions on current affairs

1)   DIPAM has set up an Investor Facilitation Platform. What does DIPAM stand for?

a. Department of Investment and Private Asset Management
b. Department of Investment and Public Asset Management
c. Department of Investment and People Asset Management
d. Department of Investment and People Assets Management
Answer  Explanation 

ANSWER: Department of Investment and Public Asset Management

Explanation:
Finance Ministry has set up an Investor Facilitation Platform that will provide information about stocks of public sector units.

Set up by the Department of Investment and Public Asset Management (DIPAM), the platform will be an interactive forum for all stakeholders, including investors, investment banks, law firms, public sector units and administrative ministries that are involved in stake sales.

Developed and maintained by PRIME Database, all users will have to register on the facilitation platform, which will then be authorised by DIPAM.

According to an official, different categories of users will get different kinds of information. But the overall objective is to make them more in touch with PSU disinvestment issues.

Investors will get features like price movements, shareholding patterns and financial results.

For other intermediaries likes investment banks and law firms, the facilitation platform is expected to give them closer access and better interaction with DIPAM to work on ongoing and upcoming stake sales.

DIPAM is also likely to soon launch a PSU information platform that would provide investors with details on listed PSUs including their daily prices, financial and annual results, corporate announcements and also details of the Board of Directors.

Investors should be aware about their investments. This will also bring more accountability in the functioning of PSUs.

The move comes at a time when DIPAM is expected to raise INR 72,500 crore from disinvestment proceeds this fiscal, including INR 46,500 crore from minority stake sales.


2)   Union Government on April 20, 2016 renamed the Department of Disinvestment as DIPAM which stand for ________?

a. Department of Infrastructure and Public Asset Managing
b. Department of India and Public Asset Management
c. Department of International and Public Asset Management
d. Department of Investment and Public Asset Management
Answer  Explanation 

ANSWER: Department of Investment and Public Asset Management

Explanation:
Union Government on 20 April 2016 notified that the Department of Disinvestment is renamed as Department of Investment and Public Asset Management or DIPAM.

  • The decision is aimed at proper management of Union government’s investments in equity including its disinvestment in central public sector undertakings (PSUs).
  • The new department has been mandated to advise the government in the matters of financial restructuring of central public sector enterprises and for attracting investment through capital markets.
  • A comprehensive approach will be adopted for efficient management of government investment in Central Public Sector Enterprises (CPSEs) by addressing issues such as capital restructuring, dividend, bonus shares, etc.