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Finance Ministry Approves Navratna Status to Rail Vikas Nigam Limited

Category : National
Published on: April 29 2023 Share on facebook

  • Finance Ministry gave its approval to upgrade Rail Vikas Nigam Limited (RVNL) to Navratna Central Public Sector Enterprise (CPSE). 
  • RVNL, a public sector undertaking under the Ministry of Railways, will be the 13th Navratna amongst CPSEs.
  • RVNL is currently categorised as a Miniratna Central Public Sector Enterprise. 
  • Incorporated in 2003, RVNL is engaged in the planning, development, and implementation of railway infrastructure projects.
  • Earlier this month, RVNL emerged as the lowest bidder for a Mumbai Metropolitan Region Development Authority (MMRDA) project worth Rs 378 crore.
  • Navratna Companies are a group of firms that are considered CPSE (Central Public Sector Enterprises) units. Such businesses are given an allowance to invest up to Rs 1,000 crore without official permission from the central government.
  • According to the Indian government, CPSEs are categorized under 3 groupings such as Navratna, Miniratna and Maharatna Companies.
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