Oil and Gas Corporation (ONGC) has submitted a government proposal to increase paid up capital by ONGC Videsh of Rs 300 crore according to RS 500 crore.

ONGC Videsh is a subsidiary of ONGC, is investing in oil ventures abroad.

“The registered capital of ONGC Videsh is relatively low compared to debt on its balance sheet. The issue of debt-equity compared sometimes the way of smooth running of our business abroad. We also proposed that the authorized capital of ONGC Videsh, up to Rs 5000 crore, “Mr. Subir Raha, Chairman and Managing Director, ONGC, said the edge of the newspersons launch of the “super-Unnati Prayas programme for ONGC employees.

Under this programme, ONGC sends his career in the mid-leaders of the Indian Institute of Foreign Trade (IIFT) for an MBA 18-month residential program.

The program, under the direction of IIFT for ONGC workers should pay special attention on trade and international affairs.

For the first part, twenty leaders were selected from about 340 nominations received from ONGC employees.

Mr. Raha said ONGC and spend over Rs 25 crore per annum for the training of its leaders in management and engineering programs.

The company will also soon in a tie-up Management Development Institute to offer a general programme management of his career in the mid-leaders.