Rail Vikas Nigam becomes 13th Navratna in 9 years in India

The 13th Central Public Sector Enterprise (CPSE) to receive the Navratna designation is Rail Vikas Nigam Limited (RVNL). Engineers India Limited received the Navratna designation in 2014. Prior to this, RVNL was a schedule 'A' CPSE under the Ministry of Railways and fell under the Miniratna category I. In 2021–2022, it reported revenues of Rs 193.81 billion and a net profit of Rs 10.87 billion. On January 18, 2023, the Inter-Ministerial Committee (IMC) met to discuss the Ministry of Railways' request for RVNL Limited to receive Navratna status. For a CPSE to be eligible for Navratna status, the company must have Miniratna l, schedule A status and have obtained ‘excellent’ or ‘very good’ Memorandum of Understanding (MoU) rating in three of the last five years. The business must also receive a score of 60 out of 100 in categories like net profit, cost of goods sold, cost of services rendered, capital employed, earnings per share, and inter-sectoral performance. The company will be able to make more independent decisions about investments, forming joint ventures, and other financial matters thanks to the status. Also Read India’s first cable-stayed rail bridge at Reasi completes constructionWaltair receives one more railway project