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Navratna Status to Power Finance Corporation

June 18, 2007

Government of India has granted ‘Navratna’ status to Power Finance Corporation and a formal investiture ceremony in this regard is scheduled to be held in New Delhi on 22 June 2007.

It will allow higher operational freedom to the board of directors of the company regarding extent of investment in joint ventures, incurring of capital expenditure, creation of below board level positions, investment in equity etc.

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