PSU means Public Sector Undertaking or Public Sector Enterprise are the companies owned by the central government or one or more than one territorial or state government. For a company to be a PSU the company stock needs to be majority-owned by the government. PSUs may be classified into three types, such as Central Public Sector Enterprises, Public Sector Banks or State Level Public Enterprises.
These provide a secure future and a handsome amount of money as these are less affected by the recession. This sector provides a career for both non-technical and technical personnel. The PSUs recruit thousands of diploma and degree-holding personnel in the technical field. All these companies have their own recruiting procedures. Some of these companies tend to conduct competitive type examinations or technical written and interview rounds.
PSU applications through the GATE exam are high in demand. PSUs offer employment through GATE score on various posts for which notifications are released individually by every PSU. Through PSU recruitment through GATE, candidates have to use their valid GATE exam scores to be shortlisted for the job. While most of the companies offer direct recruitment on the basis of GATE score, some also conduct additional tests, interviews or group discussions.
Now the thing one may consider is that going to a PSU is only possible when you have a high GATE score.
Additional things to know about PSU recruitment through GATE
You need a fresh GATE score to get through PSUs. GATE score is not valid for 3 years.
Recruitment depends on the type of PSU. For example, BSNL doesn't conduct any interview for BSNL JTO while NTPC conducts another test apart from GATE to recruit candidates.
Some PSUs also conduct additional interviews and group discussion rounds for the recruitment of the candidates.
Eligibility Criteria for PSU Recruitment through GATE –
A valid GATE score is required mostly but PSUs may sometimes specify other eligibility criteria such as the passing percentage/CGPA during graduation, a medical certificate to signify fitness, age limit, etc.
Note: Only Indian citizens are eligible for PSU recruitment through GATE.
List of PSU undertaking through GATE
GAIL INDIA LIMITED
NTPC
INDIAN OIL
BSNL
DELHI DEVELOPMENT AUTHORITY (DDA)
MAHARASHTRA STATE ELECTRICITY TRANSMISSION CO. LTD.
NPCIL
ONGC
POWER SYSTEM CORPORATION LTD. (POSOCO)
POWER SYSTEM OPERATION CORPORATION LTD.
PUNJAB STATE POWER CORPORATION LTD (PSPCL)
PUNJAB STATE TRANSMISSION CORPORATION LTD.
WEST BENGAL STATE ELECTRICITY DISTRIBUTION COMPANY LTD.
DEFENSE RESEARCH AND DEVELOPMENT ORGANIZATION
HINDUSTAN PETROLEUM CORPORATION LTD.
Types of PSU
PSUs have been classified under 3 categories:
1. MAHARATNA
Maharatna is the status given to top public sector undertakings where the companies have the accessibility to make foreign investments of up to Rs 5,000 crores without seeking any Government approval.
2. NAVRATNA
Navratna is a status given to the PSUs by the Department of Public Enterprises. A company must obtain a score of 60 out of 100 to be deemed as a Navratna. The Navratna status gives privileges to enhance financial and operational autonomy and authorizes the company to invest up to Rs. 1000 crores or 15% equal to their net worth on a single project without seeking any Government approval.
3. MINIRATNA
Miniratnas can generally afford less extensive financial autonomy. The Miniratna Category - I companies are allowed to invest up to Rs 500 crore or equal to their net worth, whichever is lower out of both, and Miniratna Category - II companies can invest up to Rs 300 crore or up to 50 percent equal to their net worth, again whichever is lower out of both.
Benefits of being in a PSU
You
will enjoy job security like any other government employee.
There
are many allowances as per your post in PSUs, such as travel expenses,
medical facilities, etc.
There
are different monetary benefits of working at a PSU, such as
performance-based incentives, retirement benefits, easy to get loans, etc.
