{"id":157603,"date":"2025-03-04T19:20:17","date_gmt":"2025-03-04T13:50:17","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=157603"},"modified":"2025-03-04T19:20:17","modified_gmt":"2025-03-04T13:50:17","slug":"navratna-status-to-irctc-and-irfc","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/navratna-status-to-irctc-and-irfc","title":{"rendered":"Centre Grants \u2018Navratna Status\u2019 to IRCTC, IRFC"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">T<\/span><span style=\"font-weight: 400;\">he central government has awarded Navratna status to two public sector companies <\/span><b>Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC).<\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>The total number of Navratna companies has reached 26.<\/b><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>About IRCTC<\/b><\/span><\/h2>\n<ul>\n<li><b>Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is Navratna (ow) listed company under Ministry of Railways, Government of India.<\/b><\/li>\n<li aria-level=\"1\"><b>Incorporation Date: <\/b><span style=\"font-weight: 400;\">27th September 1999.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Purpose<\/b><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Upgradation of catering services in Indian Railways<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Promotion of rail-bound tourism (domestic &#038; inbound).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Development of budget hotels, special tour packages, global reservation systems, and information commercial publicity.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>About IRFC<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IT was set up on <\/span><b>12th December, 1986 <\/b><span style=\"font-weight: 400;\">as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IRFC is a<\/span><b> Navratna Public Sector Enterprise<\/b><span style=\"font-weight: 400;\"> under the <\/span><b>administrative control of the Ministry of Railways, Govt. of India.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is also registered as Systemically Important <\/span><b>Non\u2013Deposit taking Non Banking Financial Company (NBFC \u2013 ND-SI)<\/b><span style=\"font-weight: 400;\"> and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Primary Objective: <\/b><span style=\"font-weight: 400;\">Mobilize funds from domestic and international markets to finance Indian Railways&#8217; expansion and asset acquisition.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-size: 16pt;\"><b>Criteria for Grant of CPSE Status<\/b><\/span><\/h3>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.7967%;\">\n<tbody>\n<tr>\n<td style=\"text-align: center; width: 27.1084%;\"><b>Status<\/b><\/td>\n<td style=\"text-align: center; width: 72.8466%;\"><b>Eligibility Criteria<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 27.1084%;\"><b>Maharatna (Highest Autonomy)<\/b><\/td>\n<td style=\"width: 72.8466%;\"><span style=\"font-weight: 400;\">&#8211; Must be a Navratna company<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Annual turnover of \u20b925,000 crore+ (last 3 years)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Net worth of \u20b915,000 crore+<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Net profit of \u20b95,000 crore+ (last 3 years)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Global operations or international presence<\/span><\/p>\n<p><span style=\"font-weight: 400;\">-Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 27.1084%;\"><b>Navratna (Higher Autonomy)<\/b><\/td>\n<td style=\"width: 72.8466%;\"><b>Must be a Miniratna-I company<\/b><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Composite score of <\/span><b>60+ based on financial and operational performance.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; Can invest up to \u20b91,000 crore or 15% of net worth without government approval<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 27.1084%;\"><b>Miniratna (Basic Autonomy)<\/b><\/td>\n<td style=\"width: 72.8466%;\"><b>Category I:<\/b><span style=\"font-weight: 400;\"> Profitable for 3 years &#038; pre-tax profit of \u20b930 crore+<\/span><\/p>\n<p><b>Category II:<\/b><span style=\"font-weight: 400;\"> Profitable for 3 years but with lower financial thresholds<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<ul>\n<li aria-level=\"1\"><b>Navratna and Maharatna companies enjoy greater independence in investment, joint ventures, and operational decision-making.<\/b><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6375%;\">\n<tbody>\n<tr>\n<td style=\"width: 111.19%; text-align: center;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Also Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; 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