Coal India gets Maharatna status

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Coal India Ltd (CIL) has been conferred the coveted Maharatna status, giving the world's largest coal producer greater autonomy for taking investment decisions.

Along with CIL, Neyveli Lignite Ltd has also been awarded Navratna status, it was announced at a PSUs' function attended by President Pratibha Patil here.

Another PSU Pawan Hans Helicopters has received Mini-ratna tag.

"I take this opportunity to compliment the management and employees of CPSEs, who have been felicitated and conferred with Maharatna and Navratna status today," Patil said.

She said the honour given to these PSUs recognised their performance over the years.

Once a company gets the Maharatna status, its board would not be required to take the government's permission for investments up to Rs 5,000 crore in a joint venture project or wholly-owned subsidiary. For the Navratna companies, the limit is Rs 1,000 crore.