27 October, 2019
Government of India has accorded ‘Maharatna’ status to public sector undertaking’s (PSU’s) Hindustan Petroleum Corporation Limited (HPCL) and Power Grid Corporation.
This will impart greater operational and financial autonomy thus enhancing powers to their Boards to take financial decisions.
Boards of these PSUs can make equity investments to undertake financial joint ventures (JV) and wholly owned subsidiaries and undertake mergers and acquisitions (M&A) in India as well as abroad. This is however 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.
Holding companies of a ‘Maharatna’ PSU are also empowered to float fresh equity, transfer assets, divest shareholding in subsidiaries, but are subjected to condition that the delegation will only be in respect of subsidiaries set up by holding company.
Criteria for grant of Maharatna status:
# Shall be given to CPSEs:
# Having Navratna status.
# Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
# Average annual turnover of more than Rs. 25,000 crore, during the last 3 years.
# Average annual net worth of more than Rs. 15,000 crore, during the last 3 years.
# 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.
Criteria for grant of Navratna status:
The Miniratna Category – I and Schedule ‘A’ CPSEs,which have obtained ‘excellent’ or ‘very good’ rating under the Memorandum of Understanding system in three of the last five years, and have composite score of 60 or above in the six selected performance parameters, namely,
1.net profit to net worth.
2.manpower cost to total cost of production/services.
3.profit before depreciation, interest and taxes to capital employed.
4.profit before interest and taxes to turnover.
5.earning per share.
Criteria for grant of Miniratna status:
The CPSEs which have made profits in the last three years continuously and have positive net worth are eligible to be considered for grant of Miniratna status.
Source: INDIAN EXPRESS
Mission Indradhanush was launched in 2014 under the Ministry of Health and Family Welfare. 1. Between 2009 - 2013, only 1% coverage per year has increased. We have to make it to 5%. 2. Objectives of Mission Indradhanush: We have the aim of full coverage by 2020. Cover all those children who are either unvaccinated or are part
A Bill that could alter the Mediation landscape The background behind Mediation Bill: In General, Disputes Became part and parcel of Day-to-Day Life. Someone or the Other belonging to family or else not a part of the family would be fighting for something. These Disputes may be for Smaller or B
List of all Military Exercises of India 2021 Military Exercises of India with Neighbours Sampriti: India & Bangladesh Mitra Shakti: India & Sri Lanka Surya Kiran: India & Nepal Hand in Hand Exercise: India & China Ekuverin: India & Maldives Military Exercises of India with Other countries Maitree Exer
Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021 1) Pecuniary Jurisdiction The Consumer Protection Act, 2019 The Consumer Protection Act, 2019 promulgates a three-tier quasi-judicial mechanism for redressal of consumer disputes namely district commissions, state
The Swachh Bharat Mission - Urban (SBM-U), launched on 2nd October 2014 aims at making urban India free from open defecation and achieving 100% scientific management of municipal solid waste in 4,041 statutory towns in the country. The objectives of the mission are mentioned below: Elimination of open defecation Eradication of Manual S
Copyright© Aspire IAS Academy. All rights reserved. Powered by CLT Technologies & Edu-Publishers Private Limited.