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Suresh Prabhu to be a Key Speaker at World Bank - Singapore Infrastructure Finance Summit 2015



Suresh Prabhu to be a Key Speaker at World Bank - Singapore Infrastructure Finance Summit 2015

Suresh Prabhu to Share Experience About Infrastructure Financing in Indian Railways

The Policy Makers and Leading Finance Experts to Discuss the Latest Global Initiatives at the Summit 

Minister of Railways Shri. Suresh Prabhakar Prabhu is visiting Singapore to participate as a key speaker during the Infrastructure Finance Summit 2015 organised on tomorrow i.e. 20th October 2015 by the World Bank in association with the Government of Singapore. Mr. Prabhu had proposed for the need of world leaders getting together to discuss infrastructure financing even during the G20 summit where he had participated as the Prime Minister's Sherpa (Special Representative). Mr. Suresh Prabhu has been specially invited to share experiences on the instrumental work that Indian Railways is doing in Infrastructure financing. Indian Railways for the first time has set a mammoth plan to invest more than 140Bn US Dollars in next five years and has been tapping innovative sources to fund this infrastructure growth e.g., Institutional borrowing, PPP, State JVs etc.The participation would facilitate getting further funds for infrastructure development in India, a cause that Mr. Prabhu has been championing for long.

The Summit would gather policy-makers and leading minds in finance to discuss the latest global initiatives, the approach of institutional investors and other private funders, the opportunities and obstacles that exist on the ground in Asian emerging economies, and the most effective strategies to accelerate progress in the current volatile economic environment.

Organised by the World Bank Group, the Singapore Ministry of Finance, the Monetary Authority of Singapore and the Financial Times, in association with the World Bank-ASEAN Infrastructure Finance Network, the Summit has become the leading international forum for public-private debate on infrastructure investment. 

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Suresh Prabhu holds review meeting with railway PSUs

Railway PSUs told to ensure transparency in their working 
Minister of Railways Shri Suresh Prabhakar Prabhu held a review meeting with the CMD/MD of the Central Public Sector Enterprises (CPSEs) under the administrative control of Ministry of Railways. In addition, the meeting was attended by Chairman, Railway Board and other Board Members.

The Railway Minister directed that the CPSEs should ensure transparency in their working and to follow the best practices in their tenders / contracts and other activities etc. He also told the CPSEs to be ready to undertake more Railway projects which may be given to them shortly. They should be ready to leverage their resources and reserves for these projects. Funds should not be a constraint for the Railway projects.

He also directed that all the CPSEs should make all out effort to show profit and hand over healthy dividend to the Railways. Turnover / Production targets fro the financial year 2015-16 should be exceeded. Each of the projects undertaken by them should be meticulously planned. The CAPEX targets should be met without fail. It should be examined whether the production units and workshops of Railways may adopt the method of profit and loss accounting.

The CPSEs have been asked to develop their own Facebook and Twitter handle and inform the public about the good work being done by them.

The Railways CPSEs participated in the review meeting included (1) Container Corporation of India Ltd.(CONCOR), (2) IRCON International Ltd., (3) Indian Railway Catering and Tourism Corporation (IRCTC), (4) Indian Railways Finance Corporation (IRFC), (5) Konkan Railway Corporation Ltd. (KRCL), (6) Mumbai Rail Vikas Corporation (MRVC), (7) Rail Vikas Nigam Ltd. (RVNL), (8) Railtel Corporation of India Ltd. (RCIL), (9) RITES Ltd., (10) Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL), (11) Burn Standar Company Ltd. (12) Braithwaite & Company Limited (13) Bharat Wqagons Engineering Ltd.(BWEL) (14) Kolkata Metro Rail Corporation Ltd (KMRCL). 

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Indian Railway Weightlifters Win 6 Medals for India in the Commonwealth Youth, Junior & Senior Weightlifting Championship, 2015 
For the first time in the history of weightlifting, an individual international tournament was organized in India when it hosted the Commonwealth Youth, Junior and Senior Weightlifting Championships in Pune, Maharashtra from October, 11-15.

The Indian Contingent participating in this Championship among others included 6 players belonging to Indian Railways.

It is a matter of pride that all the six Railway players gave an outstanding performance and won 6 Medals for India. Railway players namely Ms. Matsa Santoshi, Ms. Punam Yadav, Ms. Sanjita Chanu, Shri S. Satish Sivalingam won gold medals and Ms. S. Mirabai Chanu won silver medal, Ms. Minati Sethi won Bronze medal in their respective weight categories. 



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