• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

‘Maharatna’ status to Power Finance Corporation

October 15, 2021
in Economy
Reading Time: 3 mins read
0
‘Maharatna’ status to Power Finance Corporation
109
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In news– Recently, Govt. of India accorded  ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC).

What are its effects on PFC?

  • An order to this effect was issued by the Department of Public Enterprises, under the Ministry of Finance.
  • With the status of Maharatna, the PFC would get greater operational and financial autonomy.
  • The grant of ‘Maharatna’ status to PFC will impart enhanced powers to the PFC Board while taking financial decisions. 
  • The Board of a ‘Maharatna’ CPSE can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad, subject to a ceiling of 15% of the Net Worth of the concerned CPSE, limited to Rs.5,000 crore in one project. 
  • The Board can also structure and implement schemes relating to personnel and Human Resource Management and Training. 
  • They can also enter into technology Joint Ventures or other strategic alliances among others.
  • The enhanced powers that come with Maharatna Status will also help PFC in pushing the Government’s agenda of funding under the National Infrastructure Pipeline, national commitment of 40% green energy by 2030.
  • It will also enable effective monitoring and implementation of the New Revamped Distribution Sector Scheme with an outlay of more than Rs.3 Lakh crore.

 Power Finance Corporation Ltd (PFC)-

  • Incorporated in 1986, PFC is the largest Infrastructure Finance Company today, exclusively dedicated to the Power Sector.
  • It is under the administrative control of the Ministry of Power.
  • PFC was conferred the title of a ‘Navratna CPSE’ in June, 2007 and was classified as an Infrastructure Finance Company by the RBI on 28th July, 2010.
  • It is designated as a nodal agency for development of Integrated Power Development Scheme(IPDS), Ultra Mega Power Projects (UMPPs) and bid process coordinator for Independent Transmission Projects (ITPs)
  • The company also has the mechanism of rating different state power utilities on their performance.

Criteria for grant of Maharatna status to CPSEs-

  • Having Navratna status
  • Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
  • An average annual turnover of more than Rs. 25,000 crore during the last 3 years
  • An average annual net worth of more than Rs. 15,000 crore during the last 3 years
  • An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years
  • Should have significant global presence/international operations.

Maharatna CPSEs-

  1. Bharat Heavy Electricals Limited.
  2. Bharat Petroleum Corporation Limited.
  3. Coal India Limited.
  4. GAIL (India) Limited.
  5. Hindustan Petroleum Corporation Limited.
  6. Indian Oil Corporation Limited.
  7. NTPC Limited.
  8. Oil & Natural Gas Corporation Limited.
  9. Power Grid Corporation of India Limited.
  10. Steel Authority of India Limited.
image_pdfMake PDF
Source: PIB
Tags: PIBPrelims

Related Posts

12th WTO Ministerial Conference

12th WTO Ministerial Conference

June 30, 2022
“National Highway Excellence Awards” 2021

“National Highway Excellence Awards” 2021

June 28, 2022
Global Liveability Index, 2022

Global Liveability Index, 2022

June 27, 2022
Odisha’s Mo Bus

Odisha’s Mo Bus

June 25, 2022
Payments Vision 2025

Payments Vision 2025

June 24, 2022
Twin deficit problem

Twin deficit problem

June 24, 2022
War on Drugs

War on Drugs

June 24, 2022
World Gold Council (WGC) report

World Gold Council (WGC) report

June 23, 2022
Multi-modal logistics parks (MMLPs) scheme

Multi-modal logistics parks (MMLPs) scheme

June 23, 2022
Global Trends Report, 2022

Global Trends Report, 2022

June 23, 2022
Please login to join discussion

Our Offline Classroom Student

PRELIMS 2021 POLITY QUESTIONS ANALYSED

https://youtu.be/5q8hBcRGhAs

PRELIMS 2021 HISTORY QUESTIONS ANALYSED

https://youtu.be/v0SIZ7SUybg

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

July 2022
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News Newspaper News Paper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News Newspaper News Paper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In