Published on: October 13, 2021

MAHARATNA STATUS

MAHARATNA STATUS

buy isotretinoin on ebay What is in news : Govt. of India accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC), thus giving PFC greater operational and financial autonomy.

Epe PFC – Power Finance Corporation

  • Is an financial institution.
  • Wholly owned by the Government of India.
  • Essentially a state-run non-banking financial company that focuses on power infrastructure

What is MAHARATNA STATUS:

  • Miniratna, Navratna and Maharatna Status are given to PSUs depending on their success.
  • Department of Public Enterprises under Ministry of Heavy Industries & Public Enterprises grants these status.
  • The “Maharatna” category for CPSEs was introduced in 2009 with objective to empower mega CPSEs to expand their operations and emerge as global giants or become Indian Multinational Companies (MNCs).
  • At present, there are Eight Maharatna companies:
    • Bharat Heavy Electricals (BHEL),
    • Coal India (CIL),
    • GAIL (India),
    • Indian Oil Corporation Limited,
    • NTPC,
    • Oil and Natural Gas Corporation (ONGC)
    • Steel Authority of India (SAIL)
    • Bharat Petroleum Corporation Limited
  • Maharatna and Navaratna state-owned units operate in strategic fields such as coal, petroleum, steel, heavy engineering, telecommunications, power supply and transportation services.
  • Criteria for Maharatna status
    • Having Navratna status.
    • Average annual turnover of more than Rs. 25,000 crore, during last 3 years.
    • Average annual net worth of more than Rs. 15,000 crore, during last 3 years.
    • Average annual net profit after tax of more than Rs. 5,000 crore, during last 3 years.
    • Should have significant global presence and international operations.
    • Listed on Indian stock exchange with minimum prescribed public shareholding limit under SEBI regulations.