SENSEX NIFTY
Home » News » CNBC-TV18 Comments
Feb 18, 2013, 03.38 PM IST | Source: CNBC-TV18

4-bank sub core group formed to recall KFA loan

Out of the five core group of banks formed of the consortium of 17 lenders to Kingfisher Airlines (KFA), a four bank sub-core group has been formed to facilitate the loan recall process for the cash strapped airline, reports CNBC-TV18’s Sunanda Jayaseelan.

Out of the five core group of banks formed from the consortium of 17 lenders to Kingfisher Airlines (KFA), a four bank sub-core group has been formed to facilitate the loan recall process for the cash strapped airline, reports CNBC-TV18’s Sunanda Jayaseelan.

This sub-committee consists of State Bank of India (SBI), Punjab National Bank (PNB), Industrial Development Bank of India (IDBI) and Bank of India (BoI). These four banks have the largest exposure in KFA. They have been mandated to get approval from their boards for recalling of loans.

According to a very highly placed source at SBI, a decision regarding this at the board level is expected within the next 10 days. Therefore, if SBI takes a decision in the next 10 days then one can expect other three banks also to start the process within the next 10 days.

The sources also added that they are highly confident about all banks getting board approval to start recalling the loans.

READ MORE ON  KFA, SBI, PNB, IDBI
Set email alert for

ADS BY GOOGLE

video of the day

Rupee weakness modest, see yields at 7.60% in Q1: Deutsche

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.