Over 1,000 RINL Employees Opt for Voluntary Retirement Amid Disinvestment Plan
Over 1,000 employees of RINL have applied for the voluntary retirement scheme as the company faces disinvestment. The scheme follows the Department of Public Enterprises guidelines, and employees opted by the deadline in July 2025. The government plans full disinvestment amid the company's massive liabilities and financial challenges.
- Country:
- India
In a significant move amid ongoing financial challenges, over 1,000 employees of the disinvestment-bound steel giant Rashtriya Ispat Nigam Ltd (RINL) have applied for a voluntary retirement scheme. This was confirmed by Minister of State for Steel, Bhupathiraju Srinivasa Varma, during a session in Parliament on Friday.
The Voluntary Retirement Scheme-II (VRS-II) offered by RINL follows guidelines set by the Department of Public Enterprises dated July 20, 2018. Launched on June 14, 2025, the scheme has seen 1,017 employees opting for retirement, as the company grapples with burgeoning financial liabilities and significant operational challenges.
The Indian government, which holds a 100 percent share in RINL, had previously approved disinvestment plans in January 2021. This decision spurred protests from workers' unions and political opposition. As of March 31, 2024, RINL's liabilities stood at Rs 26,114.92 crore. With exhausted credit lines and a dire financial outlook, the government intervened by injecting Rs 11,440 crore to stabilize operations.
(With inputs from agencies.)
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