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What is the Full Form Of PSU? | List of Different Public Sector Undertaking In India

Written by  Piyush Bhartiya, MBA

Published on Mon, February 10, 2020 3:35 PM   Updated on Tue, November 23, 2021 9:41 AM   6 mins read
Source: REVIEW Master Vikrant

The PSU mainly stands for Public Sector Understanding but it has other full forms related to other fields too. Public Sector Understandings are government-owned sectors in India where most of the work or company i.e 51% of the work is handled by the Central Government of India or the state government of India.

The main motive of Public Sector Understandings is to undertake commercial projects under its own banner. These government projects are more concerned about building the nation and improving the economy of the country and less concerned with making profits. The audits of all PSU’s are managed and controlled by the Comptroller and Auditor General of India (CAG).

Top PSU Companies in India

Here is the list of Best PSU Companies:

  1. Coal India Limited
  2. State Bank of India
  3. Food Corporation of India
  4. Indian Oil Corporation Limited
  5. Power Grid Corporation of India
  6. Bharat Heavy Electricals Limited
  7. Mahanagar Telephone Nigam Limited
  8. National Thermal Power Corporation
  9. Bharat Petroleum Corporation Limited
  10. Oil & Natural Gas Corporation Limited

Objectives of PSU

The objectives of PSU’s are listed below:

  1. It promotes rapid economic development which emphasizes creating and expanding infrastructure.
  2. It also aims at generating financial resources for the development of the economy.
  3. It also promotes balanced regional growth.
  4. It also encourages and develops small scale and ancillary industries in India.
  5. It also accelerates export promotion.

Employees PSU

Here, PSU employees are the term that is used for the employees working for Public Sector Understandings. These employees cannot be totally termed as government employees.

One can also say that PSU Employees are termed as government servants but they do not get as much benefit as a government servant gets.

Government PSU

Public Sector Understandings or PSU are government-owned sectors in India where most of the work or company i.e 51% of the work is handled by the Central Government of India or the state government of India. The main motive of Public Sector Understandings is to undertake commercial projects under its own banner.

These government projects are more concerned about building the nation and improving the economy of the country and less concerned about making profits. The audits of all PSU’s are managed and controlled by the Comptroller and Auditor General of India (CAG).

PSU Full Form in Banking 

In banking fields, PSU mainly stands for Public Sector Banks. Public Sector banks are mainly the banks that are handled and governed by the government of India in majority i.e. 50%. There are a total of 18 PSU banks in India

Major PSU banks in India are as follows:

  1. State Bank of India
  2. Allahabad bank
  3. Andhra bank
  4. Bank of Baroda
  5. Bank of India
  6. Bank of Maharashtra 
  7. Canara Bank
  8. Central Bank of India
  9. Syndicate Bank
  10. Union Bank of India
  11. Punjab National Bank
  12. IDBI Bank

PSU Full form in Computer

The PSU in Computer stands for Power Supply Unit. The Power Supply Unit helps in converting AC to low voltage regulated DC power for the internal components of computers. The main functions of the power supply unit are to convert AC to DC, Provide DC voltage to the motherboard, adapters, and peripheral devices, Provide cooling, and facilitate airflow through the case.

First-generation computers’ power supply units used a heavy step-down transformer and a linear power supply. Some of the power supplies have a manual switch for selecting input voltage while others automatically adapt to the main voltage.

PSU Full Form in Economics

There are a total of 8 Maharatnas, 16 Navratnas, and 74 Miniratnas. Some of the Maharatnas are as follows:

List of Maharatnas are as follows:

  1. Bharat Heavy Electricals Limited (BHEL)
  2. Bharat Petroleum Corporation Limited (BPCL)
  3. Coal India Limited (CIL)
  4. Gas Authority of India Limited (GAIL)
  5. Hindustan Petroleum Corporation Limited (HPCL)
  6. Indian Oil Corporation Limited (IOCL)
  7. National Thermal Power Corporation (NTPC)
  8. Oil and Natural Gas Corporation (ONGC)
  9. Power Grid Corporation of India (POWERGRID)
  10. Steel Authority of India Limited (SAIL)

Some of the Navratnas are as follows:

  1. Hindustan Aeronautics Limited (HAL)
  2. National Aluminium Company (NALCO)
  3. Oil India Limited (OIL)
  4. Power Finance Corporation (PFC)

At last, some of the Miniratnas are as follows:

  1. Airport Authority of India (AAI)
  2. Bridge and Roof
  3. Cochin Shipyard (CSL)

Features of PSU’s in economics

  1. State Ownership
  2. Government Control
  3. Service Motive
  4. State Financing
  5. Public Accountability
  6. Bureaucratic Management

PSU Full form in GATE

Basically GATE and PSU are two different terms but they have a strong link between them.

PSUs offer a large variety of jobs starting from engineers to clerks and also assistants. The engineers get recruitment for PSUs through the GATE exam, which means if you qualify the GATE exam, then you can apply for these posts. Some of the major PSUs include NTPC, BHEL, CEL, BPCL, etc.   

PSU Full Form in Medical

The PSU in Medical stands for Presurgical unit whereas there are other full forms of PSU’s that are also available. The Presurgical Unit is also known as the Preoperative Care Unit. The presurgical Unit is actually an alternative for holding rooms.

PSU Full Form in Bonds

PSU Bonds are actually related to the banking field and it is the term that is used for mutual funds. PSU Bonds funds are the schemes that are being invested in bonds that are issued by commercial banks and public sector banks.

PSU bonds are seen as a sovereign risk and mutual funds typically restrict themselves to buying securities issued by financially sound banks with high credit ratings.

PSU Full Form in Passport

PSU Passport is all about applying and getting a passport for government employees.

Procedure for applying for a passport:

  1. The employee should submit a letter directly to their controlling authority.
  2. The passport process will remain the same as that of the normal applicants.
  3. Family members of the employee should also have to undergo the regular process of applying for a passport. 
  4. They can fill and submit the application form.
  5. Once the application is submitted, the employee can proceed with the payment.
  6. When the payment is done successfully, the employers can fix the appointment.

Documents required:

  1. Copy of the prior intimation
  2. No objection Certificate
  3. Identify Certificate

FAQs

✅ Which bank is a public sector undertaking

Ans. Public Sector Banks or PSBs are those banks where the direct holding of the Central/State Government or other PSBs is 51% or more. IDBI BANK LTD. IND BANK HOUSING LTD.

✅ Is Indian Railways a public sector undertaking?

Ans. There are eleven public undertakings under the administrative control of the Ministry of Railways, viz. Rail India Technical & Economic Services Limited (RITES); Indian Railway Construction (IRCON) International Limited etc.

✅ How many PSUs are in India?

Ans. As of 30 September 2015, there are 7 Maharatnas, 17 Navratnas, and 73 Miniratnas. There are nearly 300 CPSEs in total.

What is PSU full form?

Ans. the full form of PSU is public sector undertaking, it is owned by the state of India. A state-owned enterprise in India is called a public sector undertaking (PSU) or a public sector enterprise.

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PSU
PSU Full Form
Public Sector Understanding

About the Author & Expert

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Piyush Bhartiya

Author • MBA • 20 Years

Piyush values education and has studied from the top institutes of IIT Roorkee, IIM Bangalore, KTH Sweden and Tsinghua University in China. Post completing his MBA, he has worked with the world's # 1 consulting firm, The Boston Consulting Group and focused on building sales and marketing verticals for top MNCs and Indian business houses.

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