Rail Vikas Nigam gets 'Navratna' status

Central public sector enterprises Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways has been granted a 'Navratna' status.

Central public sector enterprises Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways has been granted a 'Navratna' status. Rail Vikas Nigam Limited was incorporated as a PSU on January 24, 2003, with the objective of implementing projects relating to the creation and augmentation of capacities of rail infrastructure.

The company began its operation in 2005 by appointing a Board of Directors. The company was granted Mini-Ratna status in September 2013. The company's authorised share capital is Rs 3,000 Crore, with paid-up share capital of Rs 2,085 crore.

The grant of 'Navratna' status will lead to an enhanced delegation of powers, more operational freedom and financial autonomy which will give huge impetus to RVNL's progress, particularly when it is extending its footprints in sectors beyond railways and even in projects abroad. The Navratna companies also have the autonomy to invest up to Rs 1,000 crore without seeking approval from the central government. (ANI)