In November 2019, authorised capital of which one of the following pub

In November 2019, authorised capital of which one of the following public sector units was increased from ₹ 3,500 crore to ₹ 10,000 crore ?

[amp_mcq option1=”Oil and Natural Gas Corporation” option2=”Numaligarh Refinery Limited” option3=”National Thermal Power Corporation Limited” option4=”Food Corporation of India” correct=”option2″]

This question was previously asked in

UPSC CISF-AC-EXE – 2020

Download PDF Attempt Online

In November 2019, the Cabinet Committee on Economic Affairs (CCEA) approved the increase in the authorized capital of Numaligarh Refinery Limited (NRL) from ₹3,500 crore to ₹10,000 crore. This increase was aimed at supporting the Numaligarh Refinery Expansion Project (NREP), which sought to triple the refinery’s capacity from 3 million metric tonnes per annum (MMTPA) to 9 MMTPA.

Authorised capital is the maximum amount of share capital that a company can issue to shareholders. Increasing it allows the company to raise more funds through equity for its projects and expansion plans. NRL is a public sector undertaking involved in oil refining, located in Assam.

The Numaligarh Refinery Expansion Project is a significant infrastructure project aimed at boosting the refining capacity in Northeast India, enhancing energy security, and promoting regional development. The increase in authorized capital was a crucial step to facilitate the funding for this large-scale expansion. NRL is a subsidiary of Oil India Limited (OIL).

More similar MCQ questions for Exam preparation:-