Maharatna, Navratna and Miniratna are not just labels. They decide how much a public sector company can invest without asking the government, and that shapes how it hires.
Maharatna
The largest central PSUs, with net worth and turnover far above the others. They can approve big investments on their own board's say.
Navratna
Large, profitable companies with a strong performance rating. Their boards also have wide financial freedom, though with lower ceilings.
Miniratna
Smaller, consistently profitable PSUs in two categories, I and II, with more limited powers.
Why job seekers should care
Bigger PSUs tend to run regular GATE-based or campus recruitment, while smaller ones hire in smaller, irregular batches.
A full, current list of PSU companies in India with each company's status is kept on Govtpvt.