The appeal of Air India’s new debt restructuring package depends on the interest rates the government provides, says deputy managing director of SBI, Santosh Nayar.
Air India's debt recast plan has been rejected and sources say that the bone of contention was the cumulative redeemable preference shares.
CNBC-TV18 learns that banks’ refusal to provide for the restructured assets follows the RBI refusing to agree to bank request on exemption on provisions with respect to cumulative redeemable preference shares.