new Delhi. Like the government companies, now the public sector banks will also be equipped with gems. Government banks will be awarded Maharatna, Navratna and Miniratna. It may be announced on 15 August. According to media reports, along with banks, the government is also looking to give complete independence to other financial institutions. After being awarded titles, public sector banks will also have complete freedom to work like government companies. From the investment to the big proposal, you will be able to take decisions yourself. They will not need to look towards the government and RBI. Let us tell you that companies are ranked on the basis of their turnover and profit.
How much will bank employees benefit
According to the information, the bank employees of the country will be given the benefit. It is also proposed to give the bank shares on an employee basis. According to the information, government companies are awarded three types of remedies. Which includes Maharatna, Navratna and Miniratna. There are two sub-categories in Miniratna. In all these categories, companies are given the title of gemstones according to different criteria.
What happens Maharatna category
The Maharatna category holds companies that have a net profit of more than 5000 crores for three years and during this period the net worth is Rs 15000 crores and the average turnover in the same period is Rs 25000 crores. Companies can then invest in the stock market through equity. Other companies can be merged or acquired with foreign companies, making them financial partners. There is a limit of 5 thousand crores for this.
The specialty of Navratna companies
A score of 60 out of 100 is a must in order to achieve Navratna status. These are measured in 6 parameters. These include net profit, net worth, manpower cost, production cost, cost of services, PBDIT and capital invested in the business.
Miniratna Category Companies
It also includes two sub-categories. Under the first sub category, a public sector company will have to show a profit for three consecutive years or a profit of Rs 30 crore or more in any one of the last three years. At the same time, it is very important for the other sub-category public sector company to show positive profit for the last three years and also have a positive net worth.