The finance ministry gave its approval to upgrade Oil India Limited & ONGC Videsh Ltd (OVL) to ’navratna’ Central Public Sector Enterprise (CPSE) from category-I ‘miniratna’. ONGC Videsh will be the 14th ’navratna’ among CPSEs
As per the Navratna company criteria, the company must have miniratna status, with four independent board directors.
