State Bank of India (SBI) sanctions Rs 2,650 cr loan to Rashtriya Ispat Nigam Ltd (RINL).
Chairman of State Bank of India (SBI) Mr. Pratip Chaudhuri on February 25, 2013 said here at Visakhapatnam that he was very much impressed with the Rashtriya Ispat Nigam Ltd (RINL) for its outstanding performance and termed the company “truly a centre of excellence.”
He made the observation on Tuesday on his maiden visit to the steel plant for completing formalities with regard to a loan of Rs 2,650 crores to the plant for its expansion project. He presented a cheque for Rs 500 crore to RINL CMD A.P Choudhary as part disbursement of the loan on the occasion. He said that, “RINL and SBI are experiencing very cordial and favorable business environment for many years and added that both organizations are committed to serving the nation.”