Union Finance Ministry approved the promotion of Rail Vikas Nigam Limited (RVNL) from Category-I Miniratna to Navratna Central Public Sector Enterprise (CPSE). The 13th Navratna among CPSEs will be RVNL, a public sector undertaking under the Ministry of Railways.As a result, the business will have more discretion over financial decisions such as investment and joint venture formation. “The upgrade of RVNL to Navratna CPSE has been approved by Finance Minister Nirmala Sitharaman. According to a tweet from the Department of Public Enterprises (DPE), RVNL will be the 13th Navratna among CPSEs.
With an annual revenue of 19,381 crores and a net profit of 1,087 crores for the years 2021–2022, RVNL is a CPSE under the Ministry of Railways. The business must meet the requirements of the Navratna Company and have four independent board directors in addition to Miniratna status. A score of 60 out of 100 is also required for the business in areas like net worth, net profit, total production costs, labour costs, service costs, capital employed, and PBDIT.