IREDA & HUDCO granted ‘Navratna status’ by Department Of Public Enterprises

Current Context: The Indian Renewable Energy Development Agency (IREDA) was granted the ‘Navratna status’ by the Department of Public Enterprises on April 26, 2024.

• This status allows IREDA to operate more independently and efficiently.
• The ‘Navratna status’ is accorded to Public Sector Undertakings (PSUs) who are authorized to take up investments of up to ₹1,000 crore without Central nod.
• They have the room to invest up to 30% of their net worth within a year as long they adhere to the ₹1,000 crore threshold.
• Firms should already have miniratna category I status and be listed under Schedule A of CPSEs to qualify for Navratna. 
• IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in projects related to new and renewable sources of energy and energy efficiency/conservation.
• With IREDA in the list, the total number of Navratna PSEs is now 17.

Question:

Q.1 What is the maximum investment limit for PSUs with ‘Navratna status’ without Central approval?
a. 1000 crore
b. 1,500 crore
c. 2,000 crore
d. 2,500 crore