List of Navaratnas CPSEs

At present, there are 18 Navratna CPSEs.

1. Bharat Electronics Limited
2. Bharat Heavy Electricals Limited
3. Bharat Petroleum Corporation Limited
4. Coal India Limited
5. GAIL (India) Limited
6. Hindustan Aeronautics Limited
7. Hindustan Petroleum Corporation Limited
8. Indian Oil Corporation Limited
9. Mahanagar Telephone Nigam Limited
10. National Aluminium Company Limited
11. NMDC Limited
12. NTPC Limited
13. Oil & Natural Gas Corporation Limited
14. Power Finance Corporation Limited
15. Power Grid Corporation of India Limited
16. Rural Electrification Corporation Limited
17. Shipping Corporation of India Limited
18. Steel Authority of India Limited

Background of Maharatna Scheme to CPSEs

The Government had introduced the Navratna scheme, in 1977, to identify Central Public Sector Enterprises (CPSEs) that had comparative advantages and to support them in their drive to become global giants.

The Boards of Navratna CPSEs have been delegated powers in the areas of

1. capital expenditure
2. Investment in joint ventures / subsidiaries
3. Mergers & Acquisitions
4. Human Resources Management...etc.

At present, there are 18 Navratna CPSEs.

The current criteria for grant of Navratna status are size neutral. Over the years, some of the Navratna companies have grown very big and have considerably larger operations than their peers.

It was felt that these CPSEs which are at the higher end of the Navratna category and have potential to become Indian Multinational Companies (MNCs), can be recognized as a separate class, i.e. ‘Maharatna’. The proposed higher category will act as an incentive for other Navratna companies, provide brand value and facilitate delegation of enhanced powers to CPSEs.

Is any additional expenditure on the part of the Government for giving Maharatna Status?

The introduction of the Maharatna scheme will not entail any additional expenditure on the part of the Government.

Main objective of the Maharatna Status to the CPSEs

The main objective of the Maharatna Scheme is to empower mega CPSEs to expand their operations and emerge as global giants.

Procedure for grant of Maharatna status to CPSEs

The procedure for grant of Maharatna status as well as their review is proposed to be similar to that in the grant of Navratna status.

List of Maharatna Status CPSEs

The list of Maharatna Status Central Pubic Sector Enterprises are

1. SAIL (Steel Authority of India Limited)
2. ONGC (Oil & Natural Gas Corporation Limited)
3. NTPC (National Thermal Power Corporation Limited)
4. Fourth one is yet to be identified

Maharatna Status - Central Pubilc Sector Enterprises (CPSEs)

What is Maharatna Status?

Some of the Navratna companies have grown very big and have considerably larger operations than their peers. It was felt that these CPSEs which are at the higher end of the Navratna category and have potential to become Indian Multinational Companies (MNCs), can be recognized as a separate class, i.e. ‘Maharatna’

Eligibility Creteria:

Maharatna is the status give to the prestegious public sector Enterprises (CPSEs), which having the following eligibility criteria are proposed to be considered for Maharatna status:

1. Having Navratna status
2. Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations
3. An average annual turnover of more than Rs.25,000 crore during the last 3 years
4. An average annual net worth of more than Rs.15,000 crore during the last 3 years
5. An average annual net profit after tax of more than Rs.5,000 crore during the last 3 years
6. Should have significant global presence/international operations

Currently, the government has 18 navratnas, however, the new maharatna status allows those company that qualify to make investment decisions to the tune of Rs 5,000 crore without requirement of government approval.

Gold Price Fixation ( GOLD FIX)

What is Gold FIX?
Gold fix is the process of determining gold price. The price of gold is fixed twice daily in London by the five members of the London gold pool, all members of the London Bullion Market Association.

Starting Time?
The fixes start at 10.30 a.m., and 3.00 p.m. London time. The length of time taken to reach an agreed fixing price can vary. Nowadays it is often reached in minutes.


Currency used to fix the gold price?
United States dollars (USD)($)
Pound sterling (GBP),
Euro (€)

Why the Price Fix?
It designs to fix a price for settling contracts between members of the London bullion market, but informally the gold fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets.

Where can find the Gold Prices?
London gold fix prices can be found on the site of the LBMA (the London Bullion Market Association).
Current Gold Price

Who are the Five Participants?
Five Participants in the fixing, who must be members of the London Bullion Market Association, are:

* Scotia-Mocatta
* Barclays Capital
* Deutsche Bank
* HSBC
* Société Générale

Further help:

Wikipedia
Kitco.com
More Explanation
London Bullion Market Association