Ordnance Factory Board To Split Into 7 Corporate Entities
The 200-year old Ordnance Factory Board is now approved by the government to be split up into seven corporate entities. The OFB looked after 41 ammunition and defence equipment facilities and housed 70,000 employees whose service conditions will not be changed. Pension liabilities are to be borne by the govt as stated by Defence Minister Rajnath Singh. The decision was taken in a Cabinet meeting Chaired by PM Narendra Modi.