IRFC Achieves Navratna Status, Becomes Third-Largest Government NBFC

Indian Railway Finance Corporation (IRFC) has been granted the coveted Navratna status by the Government of India, a major achievement in its history. With a revenue of over Rs 26,600 crore and profit after tax of over Rs 6,400 crore as of March 31, 2024, IRFC has established itself as the third-largest government Non-Banking Financial Company in India. This upgradation provides IRFC with greater financial independence, operational freedom, and the flexibility to grow on a global level. The distinction is accompanied by IRCTC's promotion to Navratna status, which takes the overall count of Navratna firms under Central Public Sector Enterprises to 26. Railway Minister Ashwini Vaishnaw congratulated the two teams and referred to this milestone as evidence of the government's emphasis on turning Indian Railways around. 
Source: The Samikhsya