Explanation:

 Policy Initiatives On Investment Management In CPSEs:
• The government has migrated from the ‘disinvestment based approach’ to ‘investment based approach’ for CPSEs.
• Guidelines on “Capital Restructuring of CPSEs” has been issued with focus on efficient management of Government’s investment in CPSEs by addressing various aspects, such as
payment of dividend, buyback of shares, issues of bonus shares & splitting of shares.
• Time-bound listing of CPSEs: The Government has put in place a mechanism/procedure along with indicative timelines for listing of CPSEs.
• The focus of the strategic disinvestment is on adopting a pragmatic approach for the Government to exit from non-strategic business to optimize economic potential.
• The Government has started using index based Exchange Traded Fund (ETF) to offer an investment opportunity in CPSEs to pension funds and retail investors in India. For this purpose a new ETF, namely BHARAT 22 was launched.