New Delhi: SJVN, NHPC, RailTel and SECP joined fellow PSUs, namely, RVNL and BEL, in navratna league of PSUs, according to a government notification. RailTel became the 22nd navratna in India, while SECP became the 23rd nvratna, SJVN is the 24th and SJVN is India’s 25th navratna company.
We’re thrilled to share that RailTel has become 22nd CPSE to be honored with the Navratna status. We sincerely thank Ministry of Railways,Ministry of Finance, DPE, DoT, MeitY and all our stakeholders for their support which helped us achieving this remarkable milestone. #RailTel pic.twitter.com/EYqYjDgHPn
— RailTel (@RailTel) August 30, 2024
What is the meaning of Navratna status
The Centre confers navratna status on PSU companies that are able to invest up to Rs 1,000 crore in their independent capacity. These companies are empowered to invest nearly 30 per cent of their complete net worth within a financial year. This investment must remain below Rs 1,000 crore, according to government rules. Navratna PSUs are also empowered to enter into joint ventures, form business alliances and open subsidiaries abroad.
The Centre on Friday, August 30, 2024, promoted SJVN, NHPC, RailTel and SECP to navratna status! Here’s what it means Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
