SBI and BoB provide a loan of Rs 14,000 crore to Air India
SBI bank
Air India will borrow Rs 18,000 crore from the State Bank of India (SBI) and Bank of Baroda (BoB) to refinance its existing debt over the short term. The airlines owned by the Tata Group may later seek longer loans. The borrowing will take the form of one-year loans.
If the winning bidder, the Jalan-Kalrock consortium, and the financing banks cannot agree on how to divide the income from aircraft rentals, lenders led by the State Bank of India (SBI) may force Jet Airways into liquidation.