The Department of Investment and Public Asset Management was set up as a separate Department on 10 December 1999 and was later renamed as Ministry of Disinvestment from 6 September 2001.
From 27 May 2004, the Department of Investment and Public Asset Management is one of the Departments under the Ministry of Finance.
The Department of disinvestment has been renamed as Department of investment and Public Asset Management (DIPAM) from 14th April, 2016.
As per the present Allocation of Business rules, the mandate of the Department is as follows:
- All matters relating to disinvestment of Central Government equity from Central Public Sector Enterprises (CPSEs).
- All matters relating to sale of Central Government equity through offer for sale or private placement in the erstwhile CPSEs(inserted through amendment Notification dated 28 June 2007).
Note: All other post investment matters, including those relating to and arising out of the exercise of call option by the strategic partner in the erstwhile CPSEs, shall continue to be handled by the administrative Ministry or Department concerned, where necessary, in consultation with the Department of Investment and Public Asset Management.
- Decisions on the recommendations of the Disinvestment Commission on the modalities of Disinvestment, including restructuring.
- All matters related to Independent External Monitor (s) for investment and public asset management.
a. Decisions in matters relating to Central Public Sector Undertakings for purposes of Government investment in equity like capital restructuring, bonus, dividends, investment of government equity and other related issues.
b. Advise the Government in the matters of financial restructuring of Central Public Sector Enterprises and for attracting investment through capital markets.
- Financial policy in regard to the utilization of the proceeds of investment channelized into the National Investment Fund.
- The Unit Trust of India Act, 1963 (52 of 1963) along with subjects relating to Specified Undertaking of the Unit Trust of India (SUUTI).