Cash pile of major PSUs like CIL, ONGC and others at Rs 1.62 lakh cr in 2012-13

NEW DELHI: India's 17 major public sector entities including CIL, ONGC, NMDC and OIL had over Rs 1.62 lakh crore in cash reserves during 2012-13, Parliament was informed today.

Among these central public sector enterprises (CPSEs), Coal India Ltd (CIL) had the maximum cash and bank balance at Rs 43,776 crore, followed by ONGC (Rs 22,450 crore), NMDC (Rs 17,230 crore) and NTPC (Rs 16,185 crore).

The 17 major CPSEs had a cash and bank balance of Rs 1,62,338 crore, said Minister of State for Finance Namo Narain Meena in written reply in Lok Sabha.

Cash and bank balance of OIL was Rs 11,770 crore while that of SAIL was Rs 13,207 crore.

Meena said CPSEs use their funds for commercial purposes including payment of dividend and tax, discharge of liabilities, working capital, capital expenditure and expansion, among other things.