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20 Jan 2021

Profit in last 3 yrs. CPSEs Category I: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. Further, the powers relating to M&As should be exercised in such a manner that it should not lead to any change in the public sector character of the concerned CPSEs. They also enjoy the freedom to enter joint ventures, form alliances and float subsidiaries abroad. The annual profit is also recorded superior and therefore, the industrial presence is recorded to be on a completely global scale. 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. It should have at least 3 ‘Excellent’ or ‘Very Good’ Memorandum of Understanding (MoU) during the last five years. We provides the best study sources required for you to clear the UPSC civil services exam. 10,000 crore during the last three years Criteria For Getting A Navaratna status Given below are the criteria an organization needs to get the Navratna Status: Should already have Miniratna status Also has to have a rating of either very good or excellent for three of the five years that are taken into consideration 10,000 crore for 3 years Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. should have made profit in the last three years continuously, the pre-tax profit should have been Rs. (iv) Average annual net worth of more than Rs. 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, Category –I CPSEs should have made profit in the last three years continuously, the pre-tax profit should have been Rs. Background: The endeavour of the Government is to make Central Public Sector Enterprises (CPSEs) autonomous board managed companies. 2500 crore or Average annual Turnover of Rs. 25,000 crore, during the last 3 years. Have made profits continuously for the last three years or earned a net profit of ₹30 crore or more in one of the three years Criteria for giving Navratna Status: The company must have ‘ Miniratna Category – I ‘ status along with a Schedule ‘A’ listing. The Navratna status empowers PSEs to invest up to Rs. Eligibility Criteria: Three years with an average annual net profit of over Rs. How many and What are they: Presently there are seven ‘Maharatna’ CPSEs, viz. The Board of Directors of these CPSEs have the powers to enter into technology joint ventures, strategic alliances and to obtain technology and know-how by purchase or other arrangements, subject to government guidelines as may be issued from time to time. 5,000 crore, during the last 3 years. Gross profit as a part of the turnover 5. 1000 cr. The annual income of the companies is possibly more than 25 crore rupees. To make equity investment to establish financial JVs and wholly owned subsidiaries and undertake mergers and acquisitions (M&As) in India or abroad, subject to a ceiling of 15% of the net worth of the concerned CPSE, limited to Rs.5.000 crore in one project. Average annual net worth of more than Rs. (i) Bharat Heavy Electricals Limited, (ii) Coal India Limited, (iii)  GAIL (India) Limited, (iv)  Indian Oil Corporation Limited, (v) NTPC Limited, (vi) Oil & Natural Gas Corporation Limited and (vii)Steel Authority of India Limited. Maharatna and Navaratna state-owned units operate in strategic fields such as coal, petroleum, steel, heavy engineering, telecommunications, power supply and transportation services. Should have significant global presence/international operations. Focus on Criteria for Prelims , delegation of powers is optional read. The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. The overall ceiling on such investments in all projects put together will not exceed 30% of the net worth of the concerned CPSE. Navratna Companies – Eligibility Criteria & Benefits of the Navratna Status. Under Articles of Association, the Board of Directors of CPSEs enjoy autonomy in respect of recruitment, promotion and other service conditions of below board level employees. The current criteria for grant of ‘Narvatna’ status are size neutral. All appointments upto this level would also be in the powers of the Boards and would include the power to effect internal transfers and redesignation of posts. To undertake mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) the Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad. Criteria for Grant of Navratna Status to CPSEs: The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered 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. 25,000 crore, during the last 3 years. Creation and winding up of all posts including and upto those of non Board-level Directors, i.e. profit before depreciation, interest and taxes to capital employed. The eligibility conditions and criteria are: Presently, there are 7 Maharatna, 16 Navratna and 71 Miniratna CPSEs. Also, the recent addition in this category is the NBCC (National building … 3. To structure and implement schemes related to personnel and human resource management and training. These public sector enterprises shall not depend upon budgetary support or Government guarantees. The Board of Directors of these CPSEs has the power to further delegate the powers relating to Human Resource Management (appointments, transfers, postings, etc). The Boards of these CPSEs should be restructured by inducting at least three non-official Directors as the first step before the exercise of enhanced delegation of authority. (ii)  Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. This shows that the company is dependable. CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. 4. Eligibility Criteria. While normally the investment would be done directly by the parent CPSE, in cases where it proposes to invest through a subsidiary into another JV, and also provide the additional capital for this purpose, the above stipulations would be in the context of the parent company. These companies called ‘Miniratnas’, are in two Category-II. 3. 15,000 crore, during the last 3 years. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the minister of the Administrative Ministry/Department. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. Average annual net … Average annual turnover of more than 25,000 crore, during the last 3 years. 20,000 crore during the last three years An average annual net worth of more than Rs. The Government of India gave the status of Navratna to 9 CPSEs, to provide them with more power and autonomy to compete in the global market, to support them in their drive to become global giants. Criteria for a PSU to get 'Maharatna' status. First of there needs to be a score of 60 out of 100 for the below parameters. Approval for the same should be obtained through the administrative Ministry. Criteria for grant of Navratna status to CPSEs • The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. Criteria for grant of Navratna status to CPSEs . To further delegate the powers relating to Human Resource Management (appointments, transfer, posting etc) of below Board level executives to sub-committees of the Board or to executives of the CPSE, as may be decided by the Board of CPSE. Average annual turnover of more than Rs. 1,000 core for ‘Navratna’ (CPSEs). The Board of Directors of these CPSEs have the powers for mergers and acquisitions, subject to the conditions that (i) it should be as per the growth plan and in the core area of functioning of the CPSE, (ii) conditions/limits would be as in the case of establishing joint ventures/subsidiaries, and (iii) Cabinet Committee on Economic Affairs would be kept informed in case of investments abroad. To raise debt from the domestic capital markets and international markets, the latter being subject to the approval of RBI/Department of Economic Affairs, as may be required. Technology Joint Ventures and Strategic Alliances. To effect organizational restructuring including establishment of profit centre, opening of offices in India/abroad, creating new activity centres etc. The above delegation of powers is subject to similar conditions as are applicable to Navratna CPSEs. (ii) manpower cost to total cost of production/services. Maharatna PSUs Criteria required to procure a Maharatna status for CPSEs. Having Navratna status Listed on the Indian stock exchange, with a minimum prescribed public shareholding under SEBI regulations An average annual turnover of more than Rs. The Boards of Maharatna CPSEs have been delegated the following powers: To incur capital expenditure on purchase of new items or for replacement, without any monetary ceiling, To enter technology joint ventures (JVs) or strategic alliances, To obtain technology and know-how by purchase or other arrangements. 15,000 crore, during the last 3 years. To establish financial joint ventures and wholly owned subsidiaries in India or abroad with the stipulation that the equity investment of the CPSE should be limited to the following:-, b. 250 crore or equal to 50 % of the net worth, whichever is less. 15,000 crore, during the last 3 years. These public sector enterprises shall not depend upon budgetary support or Government guarantee. The Boards of these CPSEs should be restructured by inducting at least three non-official Directors as the first step before the exercise of enhanced delegation of authority. 18(24)/2003-GM- GL.67 Dated 12th August, 2005) Download (44.2 KB) The Board of Directors of these CPSEs have the powers to structure and implement schemes relating to personnel and human resource management, training, voluntary or compulsory retirement schemes, etc. (v)   Average annual net profit after tax of more than Rs. To raise debt from the domestic capital markets and for borrowings from international market, which would be subject to the approval of RBI/Department of Economic Affairs as may be required and should be obtained through the administrative ministry. Under this scheme, the Government has enhanced powers delegated to CPSEs having comparative advantage and the potential to become global players. The eligibility criteria laid down by the Government for grant of Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs) are following: The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. Source: Department of Public Enterprises (as on March, 2018), https://pib.gov.in/newsite/mbErel.aspx?relid=107091, Articles to read in Newspapers 20th December 2019. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. Average annual net worth of more than Rs. Criteria for Maharatna status Under government rules, Central Public Sector Enterprises (CPSEs) must fulfill following criteria for grant of Maharatna status. Over the years, some of the Navratna companies have grown very big and have considerably larger operations than their peers. 2. The CPSEs which are Miniratna I, Schedule ‘A’ and have obtained ‘excellent’ or ‘very good’ MOU rating in three of the last five years and having composite score of 60 or above in following six selected performance indicators are eligible to be considered for grant of Navratna status. Maharatna. (iv) profit before interest and taxes to turnover, To enter into technology joint ventures or strategic alliances, To obtain by purchase or other arrangements, technology and know-how. To effect organisational restructuring including establishment of profit centers, opening of offices in India and abroad, creating new activity centres, etc. 15,000 crore, during the last 3 years. The overall ceiling on such equity investments and mergers  and acquisitions in all projects put together will not exceed 30% of the net worth of the concerned CPSE. The Board of Directors shall have the powers for M&As, subject to the conditions that (a) it should be as per the growth plan and in the core area of functioning of the CPSE and (b) the Cabinet Committee on Economic Affairs (CCEA) would be kept informed in case of investments abroad. (vi) Should have significant global presence/international operations. 1000 crore or 15% of their net worth on a single project without seeking government approval. 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, net profit to net worth. They have not defaulted in the repayment of loans/interest payment on any loans due to the Government. manpower cost to total cost of production/services. In October 1997, the Government decided to grant enhanced autonomy and delegation of financial powers to some other profit making companies (other than the Navratnas) subject to certain eligibility conditions and guidelines to make them efficient and competitive. CMD is empowered to approve international business tours of functional Directors up to 5 days duration (other than study tours, seminars, etc.) Functional Directors, who may have the same pay scale that of Board level Directors, but who would not be members of the Board. Additional powers to “Maharatna”: The Boards of ‘Maharatna’ CPSEs in addition  to exercising all powers to ‘Navratna’ CPSEs, will exercise enhanced powers in the area of investment in joint ventures/subsidiaries  and creation of below Board level posts. Recently ‘Maharatna’ status has been granted by the Government to state-owned Hindustan Petroleum Corporation Limited and Power Grid Corporation of India Limited. (ii) Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. 1. Eligibility Criteria for Miniratna (i) Category –I. The Boards of ‘Maharatna’ CPSEs will have powers  to (a)  Make equity investment to establish financial joint ventures and wholly owned subsidiaries in India or abroad and (b) undertake mergers & acquisitions, in India or abroad, subject to a ceiling of 15%  of the net worth of the concerned CPSE in one project, limited to an absolute ceiling of Rs. Maharatna Scheme was introduced for Central Public Sector Enterprises (CPSEs), with effect from 19th May, 2010, in order to empower mega CPSEs to expand their operations and emerge as global giants.The objective of the scheme is to delegate enhanced powers to the Boards of identified large-sized Navratna CPSEs so as to facilitate expansion of their operations, both in domestic as well … profit before interest and taxes to turnover. The current criteria for grant of Navratna status are size neutral. To get a Maharatna status the CPSEs have to full-fill given criteria: 1. In all other cases including those of Chief Executive, tours abroad would continue to require the prior approval of the Minister of the Administrative Ministry/Department. The Boards of ‘Navratna’ CPSEs  have been delegated powers in the areas of (i)  capital expenditure,  (ii)     investment in joint ventures/subsidiaries,  (iv) human resources management, etc. Not specified by Department of Public Enterprises. 20,000 crore for 3 years, or Average annual Net worth of Rs. Maharatna. The central Government has laid down eligibility criteria to grant Maharatna, Navratna and Miniratna status to Central Public Sector Enterprises (CPSEs).This article is explaining the criteria for granting the Maharatna, Navaratna and Miniratna status granted to PSUs/ CPSEs. (DPE O.M. 2. Eligibility Criteria for Maharatna: The CPSEs fulfilling the following criteria are eligible to be considered for grant of Maharatna status. Having Navratna status. Average annual turnover of more than Rs. 25,000 crore, during the last 3 years. 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 … These categories were Category I and Category II. Eligibility Criteria: A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna. Eligibility Criteria for Navratna. In a year, these companies can spend up to 30% of their net worth not exceeding Rs. (i) Having Navratna status. A Miniratna-II company needs to make profits for three years and have a positive net worth. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations. The ratio of net profit and net worth 4. (iii) profit before depreciation, interest and taxes to capital employed. The Board of Directors of a CPSE exercises delegated powers subject to board policy guidelines issued by Government has granted enhanced powers to the Boards of the profit making enterprises under various schemes like ‘Maharatna’, ‘Navratna’ and ‘Miniratna’ in the following  manner: Evolution of “Maharatna” Status: The Government had introduced the ‘Navratna’ scheme,  in 1997, to identify Central Public Sector Enterprises (CPSEs) that had comparative advantages and to support them comparative advantages and to support them in their drive to become global giants. 30 crore or more in at least one of the three years and should have a positive net worth. 30 crore or more in at least one of the three years and, should have made profit for the last three years continuously and, 1. The criteria and growth under Maharatna: Companies that come under this category are listed under the guidelines of the stock exchange of India. 2. Like Maharatna, Navratnas should also the criteria of CPSEs to be called as Navratna. Holding companies are empowered to transfer assets, float fresh equity and divest shareholding in subsidiaries subject to the condition that the delegation will only be in respect of subsidiaries set up by the holding company under the powers delegated to Navratna/Maharatna CPSEs and further to the proviso that a) the public sector character of the concerned CPSE (including subsidiary) would not be changed without prior approval of the Government, and b) such Maharatna CPSEs will be required to seek Government approval before exiting from their subsidiaries. The ‘Maharatna’ Scheme will empower big sized CPSEs to expand their operations and emerge as global giants. Over the years, some of the ‘Navratna’ companies have grown very big and have considerably larger operations than their peers. Category-II CPSEs should have made profit for the last three years continuously and should have a positive net worth. To create below Board level posts up to E-9 level and to wind up all below Board level posts. CPSEs Category II: The power to incur capital expenditure on new projects, modernisation, purchase of equipment etc., without Government approval upto Rs. continuous, Pre-Tax Profit > Rs.30 Crores in at least one of the 3 years and positive net worth (ii) Category- II A score of 60 (out of 100) is required, based on parameters which are given below. To approve business tours abroad of functional directors upto 5 days duration (other than study tours, seminars, etc) in emergency, by the Chief Executive or the CPSE under intimation to the Secretary of the Administrative Ministry. (iii) Average annual turnover of more than Rs. 5,000 crore, during the last 3 years. In addition, the Boards of ‘Maharatna’ CPSEs will have powers to create below Board level posts up to E-9 level. Earnings per share 3. The CPSEs shall fulfill the following eligibility criteria to be considered for grant of Navratna status: • Must have ‘Miniratna Category – I’ status along with a Schedule ‘A’ listing. 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, ‘Maharatna’. It should have obtained a rating of ‘very good’ or ‘excellent’ rating in 3 of the last 5 years under the Memorandum of Understanding (MoU) system. Average annual net profit after tax of more than Rs. 5,000 crore (Rs. Review Of The Performance Of Navratna And Miniratna Enterprises—Grant/ Divestment Of Status Thereof. 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. The higher category will act as an incentive for other ‘Navratna’ companies, provide brand value and facilitate delegation of enhanced powers to CPSEs. Presently, there are 7 Maharatna, 16 Navratna and 71 Miniratna CPSEs. For Maharatna status: Having Navratna status, Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations, Average annual turnover of more than Rs. Eligibility Criteria. The company should possess Navratna status. Gross margin calculated as per capital employed 6. No. We are Moving our blog iksa.in (Since 2013) to ". 15 % of the net worth of the CPSE in one project, c. 30 % of the net worth of the CPSE in all joint ventures/subsidiaries put together. Criteria for grant of Navratna status to PSUs To get Navratna status, the company (PSU) must full-fill the following criteria: The company should have Miniratna-I, Schedule ‘A’ status. Average annual turnover of more than 25,000 crore, during the last 3 years. In October 1997, the Government had also decided to grant enhanced autonomy and delegation of financial powers to some other profit making companies subject to certain eligibility conditions and guidelines to make them efficient and competitive. Having Navratna status. These CPSEs shall be eligible for the enhanced delegated powers provided they have not defaulted in the repayment of loans/interest payment on any loans due to the Government. Average annual net worth of more than Rs. Criteria for grant of Navratna status to CPSEs. 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