DIPAM

Why in news?

• DIPAM hires 10 bankers to manage the mega initial public offering (IPO) of the country’s largest insurer  of Life Insurance Corporation (LIC).

About DIPAM:

• DIPAM stands for Department of Investment and Public Asset Management.
• DIPAM deals with all matters relating to management of Central Government investments in equity including disinvestment of equity in Central Public Sector Undertakings.
• The four major areas of its work relates to:
  • Strategic disinvestment
  • Minority stake sales
  • Asset monetization
  • Capital restructuring
• It also deals with all matters relating to sale of Central Government equity through offer for sale or private placement or any other mode in the erstwhile Central Public Sector Undertakings.
• DIPAM is working as one of the Departments under the Ministry of Finance.

PRACTICE QUESTION

Which of the following statements are correct regarding Department of Investment and Public Asset Management (DIPAM)?

1. It works as a Department under the Ministry of Finance.

2. It deals with disinvestment of equity in Central Public Sector Undertakings.

Select the correct answer using the code given below:

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Answer