CCEA approves the proposal of DoT regarding transfer of shares

Q.  Cabinet Committee on Economic Affairs approved the proposal of DoT regarding the transfer of shares by ITI to the SNIF. What does SNIF stand for?
- Published on 15 Jul 16

a. Special National Investment Fund
b. Special National Incentive Fund
c. Special National Interactive Fund
d. None of the above

ANSWER: Special National Investment Fund
Cabinet Committee on Economic Affairs approves the proposal of the Department of Telecommunications regarding the transfer of shares by ITI Limited to the Special National Investment Fund to meet SEBI’s minimum public shareholding requirement.
  • ITI Limited will be allowed to meet SEBI’s requirements of minimum 25 percent public shareholding by August 2017.
  • Cabinet also approved the revised cost estimate of INR 7290.62 crore for the ongoing Puntsangchhu-II Hydroelectric Project in Bhutan.
  • Total escalation of the project at this stage is INR 3512.82 crore as per the government.

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