The Government of India has accorded 'Maharatna' Status to state-owned Power Finance Corporation (PFC). As per the statement by the company, the move will pave the way for the company's greater financial and operational efficiency. PFC in an official statement said, "Government of India accorded the prestigious 'Maharatna' status to state-owned Power Finance Corporation, thus giving PFC greater operational and financial autonomy." An order to this effect was issued on October 12, 2021, by the Department of Public Enterprises, under the Ministry of Finance. RK Singh, the Union Power, and New & Renewable Energy Minister congratulated PFC and said that the conferment of 'Maharatna' status is the reflection of the central government's confidence in PFC's strategic role in the overall development of the power sector and the endorsement of its sterling performance.