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Govt infuses ₹1,640 crore in RINL

Millennium Post Delhi

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New Delhi 04November2024

'Govt has infused Rs 500 cr towards equity on Sept 19, 2024 and a working capital loan of Rs 1,140 cr on Sept 27, 2024'

NEW DELHI: The government has infused Rs 1,640 crore in state-owned RINL, gripped with operational and 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 SBI, is preparing a report on the sustainability of RINL.

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