Rail Vikas Nigam Limited (RVNL) gets Navratna Status
Rail Vikas Nigam Limited (RVNL), a Central Public Sector Enterprises of Ministry of Railways, has been granted Navratna Status.
New Delhi: Rail Vikas Nigam Limited (RVNL), a Central Public Sector Enterprise of the Ministry of Railways, incorporated as PSU on 24th January 2003 has been granted Navratna Status.
RVNL was incorporated with the twin objectives of the implementation of projects relating to creation and augmentation of capacities of rail infrastructure on fast track basis and raising of extra budgetary resources for SPV projects. The company began its operation in 2005 with the appointment of Board of Directors. The company was granted Mini-Ratna status in September 2013.Read Also : NLCIL Employees Wins 3rd prize in state level 'Enviro-Solver Hackathon'
The authorized share capital of the company is Rs. 3000 Crore, with paid up share capital of Rs. 2085 crore.Read Also : Prerana Ladies Club organised CSR initiative
RVNL has been assigned the following functions:
Undertaking project development and execution of works covering full project life cycle.
Creating Project specific SPVs for individual works, if required.
On completion of a Railway project by RVNL, the concerned Zonal Railway will undertake its operation and maintenance.
The grant of “Navratna” status to RVNL leads to enhanced delegation of powers, more operational freedom and financial autonomy which will give huge impetus to RVNL’s progress, particularly so, when RVNL is extending its footprints in sectors beyond Railways and even in projects abroad.Read Also : Lok Sabha speaker Om Birla gives away Lion’s Roar to Restore SDG awards
News Must Read
- AI's Revolution: People disagree on how AI can change work life
- PM Modi to inaugurate first-ever National Training Conclave
- SECI and GRIDCO Odisha signed an agreement
- CIL Chairman Pramod Agarwal reviews WCL
- NHDC to construct 525 MW Pumped Storage Power Project to meet peak hour energy demand of MP
- Speeding up Hydro Power: CEA Fast-tracks Approval Mechanism for Pumped Storage Projects
- WhatsApp unveiled new feature called 'Channels'
- RBI not looking to withdraw 500 notes or re-introducing Rs 1,000 currency: Governor
- DRDO flight-tested ‘Agni Prime’ ballistic missile
- J&K Jaiswal Bridge over Chenab has been completed: Nitin Gadkari