PGCIL gets Navratna status

New Delhi: The Government has granted the ‘Navratna’ status to Power Grid Corporation of India Ltd (PGCIL).

With the grant of the new status, the board of PGCIL will be empowered to take decisions on investments up to Rs 1,000 crore, or 15 per cent of its net worth, without seeking approval of the Government.

PGCIL now joins the club of 15 such Navratna companies, which include NTPC, ONGC, SAIL, BHEL and Nalco.