Oil India becomes 13th 'Maharatna', ONGC Videsh now a 'Navratna'

Finance Ministry upgraded Oil India Limited (OIL) to 'Maharatna' central public sector enterprise (CPSE) category and ONGC Videsh to 'Navratna' CPSE category. OIL has become India's 13th 'Maharatna' and ONGC Videsh has become 14th 'Navratna', the ministry said. 'Maharatna' scheme is aimed at giving enhanced powers to boards of identified large-sized CPSEs to facilitate their operations' expansion.