‘Maharatna’ status has been granted by the Government to state-owned Hindustan Petroleum Corporation Limited and Power Grid Corporation of India Limited. The status also comes with greater operational and financial autonomy.
The grant of Maharatna status to the PSUs will impart enhanced powers to their Boards to take financial decisions. The Boards can structure and implement schemes relating to personnel and human resource management and training. They can also enter into technology joint ventures or other strategic alliances, among others.
Source: The Business Standard