IRCTC and IRFC are granted Navratna status by the government.

On Monday, the Indian government made a major move by elevating the Indian Railway Finance Corporation (IRFC) and Indian Railway Catering and Tourism Corporation (IRCTC) to the esteemed position of Navratna Central Public Sector Enterprise (CPSE).

This is an important milestone for the Indian Railway firms, as IRCTC and IRFC are now the 25th and 26th Navratna among the CPSEs, respectively.

The two firms' decision-making skills are expedited by the elevation to Navratna status, which gives them more financial autonomy and permits them to invest up to Rs 1,000 crore without obtaining government clearance.