Kingfisher will not receive money from SBI

Victoria
By Victoria March 13, 2012 22:47

Kingfisher will not receive money from SBI

State Bank of India (SBI) has no plans to provide fresh loan to Kingfisher Airlines, finance minister Pranab Mukherjee said today.” SBI has informed that currently there is no such plan to provide additional loan to Kingfisher Airlines,” he said in the Rajya Sabha to a question as to whether the SBI had initiated a proposal to bail out the airline by sanctioning fresh loan of Rs 1,500 crore.

He also said that SBI, leader of consortium of lenders to the air-carrier, has informed the account of the airlines is ‘sub-standard’ with eight public sector banks and ‘standard’ with five public sector banks as of February 2012.

Victoria
By Victoria March 13, 2012 22:47
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