FinMin revokes 8-year-old circular: CPSEs no longer need NITI nod for JVs

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FinMin revokes 8-year-old circular: CPSEs no longer need NITI nod for JVs - Business Standard

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The Department of Public Enterprises (DPE) in a notification said it has been done to make the process easier and less time-consuming.“At present, all proposals… by Maharatna, Navratna, and Miniratna CPSEs for investments in setting up JVs/WoS, etc.

In a move to delegate more autonomy to key central public sector enterprises (CPSEs), the Ministry of Finance (FinMin) has revoked an eight-year-old circular, which required Maharatna, Navratna, and Miniratna CPSEs to take prior permission of NITI Aayog before forming financial joint ventures (JVs) and wholly owned subsidiaries (WoS).