CURRENT AFFAIRS

2022

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Union Cabinet has approved to set up NLMC as a wholly Government of India owned company, under the administrative jurisdiction of which ministry?

A	Ministry of Home Affairs
B	Ministry of Commerce and Industry
C	Ministry of Finance
D	Ministry of Corporate Affairs

Explanation:

Detailed explanation-1: -Ownership: The NLMC will be a firm, fully owned by the Government of India. It will fall under the administrative jurisdiction of the Ministry of Finance.

Detailed explanation-2: -The Union Cabinet on 9th March 2022 has approved setting up of National Land Monetization Corporation (NLMC) as a wholly owned Government of India company with an initial authorized share capital of Rs 5,000 crore and paid-up share capital of Rs 150 crore.

Detailed explanation-3: -Department of Public Enterprise, Ministry of Finance, will set up the company and act as its administrative ministry.

Detailed explanation-4: -The Centre has appointed Sanjay Kumar Jain as interim CEO of National Land Management Corporation (NLMC). NLMC will own, hold, manage and monetize such land and assets of the PSUs that are to be closed down and the surplus non-core land assets of government-owned companies under strategic disinvestment.

Detailed explanation-5: -Department of Public Enterprises | Ministry of Finance | Government of India.

There is 1 question to complete.