The State Bank of India said on Wednesday that it had no plans of sanctioning fresh loans for the cash-strapped Kingfisher Airlines “at this point”.
Courtesy: Moneycontrol

State Bank of India , the country’s top lender, has not given fresh loans to debt-crippled Kingfisher Airlines , an official said, denying reports that the state-owned creditor was close to offering a bailout loan package.
Courtesy: Moneycontrol

Hoping to bring down its interest costs, Seshagiri Rao, the joint MD and group CFO, JSW Steel tells CNBC-TV18 that the company will take the ECB route with the conversion option to raise USD 275 million.
Courtesy: Moneycontrol

Air India has refused to carry passengers on flights cancelled by loss-making Kingfisher Airlines on credit, an official at the state-run carrier, who declined to be identified, told Reuters on Wednesday.
Courtesy: Moneycontrol

Banks are likely to infuse around Rs 1000 crore equity in Kingfisher Airlines, say CNBC-TV18 sources. Banks have also agreed to give a working capital loan of Rs 400 crore to the loss-laden airline.
Courtesy: Moneycontrol

CNBC-TV18’s Karma Paljor learns that the Directorate General of Civil Aviation (DGCA) might not be looking at punitive action against the battered Kingfisher Airlines for unnotified cancellation of flights.
Courtesy: Moneycontrol

Beleaguered Kingfisher Airlines today virtually blamed the Income Tax authorities for the large-scale flight disruptions, saying freezing of its bank
accounts by them had “severely affected” payment schedules that had led to the curtailment in its services.
Courtesy: Moneycontrol

Aviation minister Ajit Singh tells CNBC-TV18 that they are are helping Air India as it is a government concern. “The same can’t be done with private players,” he says.
Courtesy: Moneycontrol

India’s Finance Minister Pranab Mukherjee on Sunday said the government is committed to provide adequate capital to public sector banks to meet global risk norms.
Courtesy: Moneycontrol

Finance Minister Pranab Mukherjee today said it is the subsidy leakage that makes him lose his “sleep”, and not the quantum of subsidy itself.
Courtesy: Moneycontrol