Siemens VAI Metals Technologies, one of the world's leading engineering and plant-building companies for the iron and steel industry, has won an order worth euro 200 million from public sector Steel Authority of India Limited (SAIL).

The order is for public sector steel major SAIL's upcoming new steel mill, which will be built at the company's Bhilai unit.

For the latest awarded contract, Siemens VAI will engineer and supply three LD converters with a tapping weight of 180 tons.

State-run National Mineral Development Corporation (NMDC) on February 26 paid an interim dividend worth Rs 4.01 billion to the administration.

After getting the cheque from the NMDC chairman, Mr. Ram Vilas Paswan, Union Minister for Steel, Chemicals and Fertilizers, praised the company (NMDC) for its excellent performance.

Mr. Paswan stated that NDMC’s 4 million ton steel plant in Chhattisgarh would come sooner than schedule.

Government's auditing regulator, the Controller and Auditor General (CAG) has pointed out some serious fallouts in the accounts of some government departments. CAG, in a report on government's accounts for 2007-08, tabled in parliament on Friday, holds responsibility to the finance secretary and the expenditure secretary for the report preparation and anomalies.

The report by CAG, pointing misuse of funds, maintains, "Union Government made a provision for transfer of central plan assistance of Rs51,259 crore directly to state/district level autonomous bodies... for implementation of centrally sponsored schemes."

Due to inefficient management and slowdown in Aviation industry under the impact of global slowdown, Indian Railways, country's largest transporter, posted 13.17 increases in its revenue in the period between April 2008 and 2009.
 
Railways’ revenue stood at Rs 64,876.34 crore compared to Rs 57,327 crore in the same period last year. Railways posted 13.64% increase in freight and 11.82 per cent increase in passenger revenue, as per official statement of Railways Ministry.
 

The Union government, in its recent decision, has announced capital infusion in three public sector banks namely UCO Bank, Central Bank of India and  

Vijaya Bank. The Kolkata based UCO bank would get capital worth Rs 1,200 crore, through UCO's non-convertible preference shares, from center government in two installments, Rs 450 crore immediately and the balance Rs 750 crore in 2009-10.

Leading public sector bank, Punjab National Bank, formally launched the Global Credit Card, acceptable in over 29 million merchant establishments and one million ATMs in the world.

The gold credit card, launched by the Deputy Chairman of the Planning Commission Montek Singh Ahluwalia on Friday, will also have access to e-commerce sites besides hosting features such as photo card and SMS alerts.