Rural Electrification Corporation gets Navratna status
Government on Monday granted Navratna status to Rural Electrification Corporation, giving it financial and administrative autonomy.
By PTI |
NEW DELHI: Government on Monday granted Navratna status to Rural Electrification Corporation, giving it financial and administrative autonomy.
The Department of Public Enterprises (DPE) has issued the order for giving the coveted status to REC, which will now be able to expand its electricity business in the rural areas.
"REC is working throughout the country with a big network. It is a pioneer in the area of rural electrification," DPE Secretary R Bandopadhyay told PTI.
REC is the 16th PSU to have been named as the Navratna firm.
The company can now take decisions of investing up to 1,000 crore or 15 per cent of its net worth independently.
The Department of Public Enterprises (DPE) has issued the order for giving the coveted status to REC, which will now be able to expand its electricity business in the rural areas.
"REC is working throughout the country with a big network. It is a pioneer in the area of rural electrification," DPE Secretary R Bandopadhyay told PTI.
REC is the 16th PSU to have been named as the Navratna firm.
The company can now take decisions of investing up to 1,000 crore or 15 per cent of its net worth independently.
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