RVNL is a Navratna CPSE under the Ministry of Railways, Government of India

To bridge the infrastructure deficit on Indian Railways, the then Prime Minister, Bharat Ratna Shri Atal Bihari Vajpayee announ​ced National Rail Vikas Yojana (NRVY) on 15th August 2002 in his address from the Red Fort. NRVY was formally launched by Hon’ble PM on 26th December 2002. To implement NRVY, RVNL was incorporated as an 100% owned PSU of Ministry of Railways (MoR) on 24-1-2003 with the twin objectives of raising extra-budgetary resources and implementation of projects relating to creation and augmentation of capacity of rail infrastructure on fast track basis. RVNL became fully functional by March 2005.