Govt infuses Rs 1,650 cr in RINL to keep it as a going concern
financial issues, according to an official document. The government is also taking various measures to keep RINL as a going concern, the Ministry of Steel said in a note.
«In this regard, the Government of India has infused Rs 500 crore towards equity on September 19, 2024, and a working capital loan of Rs 1,140 crore on September 27, 2024,» according to the document.
It also said that SBICAPS, a wholly-owned subsidiary of the State Bank of India (SBI), is preparing a report on the sustainability of RINL.
«RINL is in serious financial trouble, and the (Steel) Ministry is taking several steps to keep RINL as a going concern in consultation with the Ministry of Finance,» it added.
Rashtriya Ispat Nigam Ltd (RINL), under the Ministry of Steel, is a steel manufacturing company. It owns a 7.5 million tonne plant at Visakhapatnam in Andhra Pradesh. The company has been facing severe financial and operational issues.
HR
Human Potential and the Future of Employment
By — Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader
Web Development
Django & PostgreSQL Mastery: Build Professional Web Applications
By — Metla Sudha Sekhar, IT Specialist and Developer
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By — Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By — Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Intermediate C++ Skills: Master Pointers, Structures and File
