Maharatna Status Granted to HPCL and Power Grid

Government granted the ‘Maharatna’ status to Hindustan Petroleum Corporation Limited (HPCL) and power Grid Corporation of India recently.

  • This will impart greater operational and financial autonomy thus enhancing powers of their Boards to take financial decisions.
  • Boards of these PSUs will enjoy independence in forming joint ventures, acquisitions and mergers of specific kind subjected to a ceiling of 15% of net worth of concerned CPSE, limited to Rs 5,000 crore in one project.
  • The Boards can also structure and implement schemes relating to personnel as well as human resource management and training.
  • CPSEs fulfilling the following criteria are eligible to be considered for Maharatna ....
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