In a move that will provide greater financial autonomy to Rashtriya Chemicals and Fertilisers (RCF), it is likely to get the ‘Navaratna’ status by the end of December 2014. RCF, which has the ‘Miniratna’ status has already made presentation before the Department of Public Enterprises (DPE), and is likely to make one final presentation in the coming days.
The Navaratna PSUs can decide on their own on investment of 30% of their net-worth in projects in India or abroad.
Besides, the board of directors of these PSUs has the powers for mergers and acquisitions, subject to certain conditions.
