Correct Answer : Option (A) - REC Ltd
Power sector focussed NBFC REC Ltd has been accorded the status of "Maharatna" central public sector enterprise (CPSE).
The move would provide the state-run company greater operational and financial autonomy.
REC Ltd has become the 12th company to attain the Maharatna status.
“We are delighted and proud to share that the Government of India has accorded the status of ‘Maharatna’ to REC, the highest recognition for a CPSE.
This will impart enhanced powers to the REC Board while taking financial decisions,“ the company said in a tweet.
The other 11 Maharatna CPSEs at present are Power Finance Corporation, Bharat Heavy Electricals Ltd, Bharat Petroleum Corp. Ltd, Coal India Ltd, GAIL (India) Ltd, Hindustan Petroleum Corp. Ltd, Indian Oil Corp. Ltd, NTPC Ltd, Oil & Natural Gas Corp. Ltd, Power Grid Corp. of India Ltd, and Steel Authority of India Ltd.
India has 13 Navratna and 74 Miniratna CPSEs.
For a company to be categorized as a Maharatna status, a company should be listed on an Indian stock exchange and have an average annual turnover of over ₹25,000 crore during the previous three years. It should also have an average annual net worth during the previous three years of more than ₹15,000 crore and an average net profit of over ₹5,000 crore during the same period.
REC can now invest up to ₹5,000 crore
, or 15%
of its net worth, in a single project after its Maharatna status..Source : Mint