{"id":113170,"date":"2021-06-17T16:48:30","date_gmt":"2021-06-17T11:18:30","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=113170"},"modified":"2021-06-17T19:05:30","modified_gmt":"2021-06-17T13:35:30","slug":"ofb-corporatisation-approved-by-cabinet","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ofb-corporatisation-approved-by-cabinet\/","title":{"rendered":"&#8220;OFB Corporatisation&#8221; Approved by Cabinet"},"content":{"rendered":"<p><strong>What is the News?\u00a0<\/strong>The Union Government has approved a plan for Ordnance Factory Board(OFB) Corporatisation.<\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>About Ordnance Factory Board(OFB):<\/strong><\/p>\n<ul>\n<li><strong>Ordnance Factory Board(OFB) <\/strong>is an umbrella body of 41 Ordnance Factories.<\/li>\n<li><strong>Origin: <\/strong>In 1775, British authorities accepted the establishment of the Board of Ordnance in Fort William, Kolkata. This marked the official beginning of the Army Ordnance in India.<\/li>\n<li><strong>Nodal Ministry: <\/strong>It is currently a subordinate office of the Ministry of Defence (MoD).<\/li>\n<li><strong>Mandate: <\/strong>It provides a major chunk of the weapon, ammunition, and supplies for Indian armed forces, paramilitary forces, and police forces.<\/li>\n<li><strong>Headquarters: <\/strong>Kolkata, West Bengal<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h5><strong>Corporatisation of OFB (Ordnance Factory Board):<\/strong><\/h5>\n<ul>\n<li><strong>Ordnance Factory Board(OFB) <\/strong>will be dissolved. It will be replaced by seven new Defense Public Sector Undertakings (DPSUs). Each undertaking will have a specific manufacturing role.<\/li>\n<li><strong>The 41 factories under the OFB <\/strong>will be subsumed under one or the other of the seven new companies. These all will be 100% government-owned public sector undertakings(PSU).<\/li>\n<li><strong>There would be<\/strong> <strong>no change<\/strong> in the service conditions of the OFB employees.\n<ul>\n<li><strong>All OFB employees<\/strong> (Group A, B, and C) from different production units will be transferred to the corporate entities on deemed deputation for an initial period of two years.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Significance of Corporatization of OFBs: <\/strong>The restructuring of OFBs is aimed at achieving the following objectives:<\/p>\n<ul>\n<li>Making it a productive and profitable asset;<\/li>\n<li>deepen specialisation in the product range;<\/li>\n<li>enhance competitiveness;<\/li>\n<li>improve quality and cost-efficiency<\/li>\n<li>overcome various shortcomings in the existing system and provide these companies opportunities in the market, including exports<\/li>\n<li>Provide more autonomy, as well as improve accountability and efficiency.<\/li>\n<\/ul>\n<p><strong>Source: <\/strong><a href=\"https:\/\/epaper.thehindu.com\/Home\/MShareArticle?OrgId=G128M5ILV.1&amp;imageview=0\"><strong>The Hindu<\/strong><\/a><\/p>\n<p><strong>\u00a0Read Also :-<a class=\"seoquake-params-link\" href=\"https:\/\/forumias.com\/blog\/center-is-primed-to-amend-factories-law\/\" rel=\"6d8261d6 x_url\">Center is primed to amend Factories Law<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News?\u00a0The Union Government has approved a plan for Ordnance Factory Board(OFB) Corporatisation. About Ordnance Factory Board(OFB): Ordnance Factory Board(OFB) is an umbrella body of 41 Ordnance Factories. Origin: In 1775, British authorities accepted the establishment of the Board of Ordnance in Fort William, Kolkata. This marked the official beginning of the Army&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/ofb-corporatisation-approved-by-cabinet\/\">Continue reading <span class=\"screen-reader-text\">&#8220;OFB Corporatisation&#8221; Approved by Cabinet<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1351,1310,1731,9],"tags":[1302,8078],"class_list":["post-113170","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-daily-news","category-daily-news-updates","category-bill-and-acts","category-public","tag-eco_7","tag-ofb-corporatisation","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704908511},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/113170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=113170"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/113170\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=113170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=113170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=113170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}