Government approves Rs 10,300 cr equity infusion for RINL

The government approval of the infusion of ₹10,300 crore as equity capital in Rashtriya Ispat Nigam Limited (RINL) is linked to the steel manufacturer increasing its capacity utilisation from 63% to 92.5% by Q3 of next fiscal year, Minister of State in the Steel Ministry Bhupathiraju Srinivasa Varma informed the Lok Sabha. Last month, the Cabinet Committee on Economic Affairs (CCEA) led by Prime Minister Narendra Modi approved a ₹11,440 crore revival plan for RINL. The Steel Central Public Sector Enterprise (CPSE) has incurred a loss of ₹3,943 crore during April-December 2024 and has total liabilities of around ₹39,000 crore as of December 31, 2024.