Power Finance Corporation has been designated as a 'Maharatna' by the government

Power Finance Corporation has been designated as a 'Maharatna' by the government

Daily Current Affairs   /   Power Finance Corporation has been designated as a 'Maharatna' by the government

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Category : National Published on: October 15 2021

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  • The government granted state-owned Power Finance Corp Ltd 'Maharatna' status, granting the company greater operational and financial autonomy.
  • PFC is the largest infrastructure finance company dedicated solely to the power sector, and it is administered by the power ministry.
  • The grant of Maharatna status to Power Finance Corporation will give the board of directors of PFC greater authority when making financial decisions.
  • There are 11 companies in India that have received 'Maharatna' status. Power Finance Corporation (PFC) is the 11th company to be added to the list.

Important Facts 

About Maharatna Company 

  • A company is granted "Maharatna" status if it has a net profit of more than 5,000 crore for three consecutive years, an average annual turnover of 25,000 crore for three years, or an average annual net worth of 15,000 crore for three years.

List of Maharatna Company in India 

  • 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
  • 11. Power Finance Corporation
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