The Centre expects to grant the 'Maharatna' status to four public sector firms viz, Oil & Natural Gas Corporation (ONGC), Steel Authority of India (SAIL), National Thermal Power Corporation (NTPC), and Indian Oil Corporation (IOCL) in two to three months. Coal India (CIL) is expected to get the same status by 2011, pending listing on the stock exchanges.

With their new status, the four companies will have an autonomy to create positions for executives in the E-7 and E-9 categories, and recruit them too. They can also take investment decisions for up to Rs 5,000 crore without any government approval, against the present limit of Rs 1,000 crore.

The qualifying criteria f

Read complete story >> (You need to login first to read complete story). New User? Register for FREE!