Navratna conferred on Power Finance Corporation

Mumbai, June 18: Power Finance Corporation (PFC) today announced that the Government of India has conferred the 'Navratna' status on the company and a formal investiture ceremony in this regard is scheduled to be held in New Delhi on June 22.

The development will now allow higher operational freedom to the company's Board of Directors with regard to the extent of investment in joint ventures, incurring of capital expenditure, creation of below board level positions and investment in equity, the company added.

UNI