Bank of Baroda sets aside INR 5 billion for Go First, airline plans to resume flights from May 27

Bank of Baroda has set aside INR 5 billion against an advance to GO First, apart from the collateral for part of the loan. Sanjiv Chadha, Managing Director and Chief Executive Officer (MD and CEO), Bank of Baroda said: ““We have INR 10 bn collateral on tangible securities and INR 5 billion as provision in this quarter.” Earlier the bank has lent INR 14.3 million to GO First. Meanwhile other banks and lenders are not looking at lending further to Go First before the completion of resolution process. The airline owes lenders, including Bank of Baroda, Central Bank of India, Deutsche