A Central Public Sector Enterprise (CPSE) designation known as Miniratna Category-I has been given to Solar Energy Corporation of India Limited (SECI).
- The company was founded in 2011.
- In order to fulfil India’s obligations under international agreements, it serves as the Ministry of New and Renewable
- Energy’s main implementing agency for renewable energy programs and projects.
- It has the highest credit rating possible from ICRA, AAA.
- The nation’s climate commitments, carbon emission reduction plans, and transition to sustainable energy have all benefited from its pivotal role in the country’s rapid growth of renewable energy producing capacity.
The requirements for granting CPSEs Miniratna status
- In 1997, the miniratna plan was launched.
- Miniratna Category-I Status: CPSEs are eligible to be considered for the grant of Miniratna Category-I status if they have produced a profit for the last three years in a row, had a pre-tax profit of at least Rs. 30 crores in at least one of the three years, and have a positive net worth.
- Miniratna Category-II Status: CPSEs that have a positive net worth and have generated profits for the last three years straight are eligible to be evaluated for the award of Miniratna-II status.
- The Miniratna CPSEs shouldn’t have fallen behind on any interest payments or loan repayments to the government.
- Miniratna CPSEs must not rely on government assurances or budgetary support.
- In order to increase the efficiency and competitiveness of the microratna firms, the Indian government has given them additional autonomy and financial authority.
- the requirements for granting CPSEs Maharatna status
- Being listed on the Indian stock exchange with the minimum required public shareholding as per SEBI standards and having Navratna status
- Over the past three years, there has been an average annual turnover of more than Rs. 25,000 crore.
- Over the past three years, the average annual net worth has exceeded Rs. 15,000 crore.
- Over 5,000 crores in net profit per year on average over the past three years
- should operate internationally and have a substantial worldwide footprint.
The requirements for granting CPSEs Navratna status
- The CPSEs that are Miniratna I, Schedule A,” and have had “excellent” or “very good” MOU ratings in three of the previous five years are eligible to be considered for the award of Navratna status. They must also have composite scores of 60 or higher in the following six chosen performance metrics.