Mumbai: India’s largest public sector lender, State Bank of India, is not looking to lend to the troubled Spicejet, said chairman Arundhati Bhattacharya on Friday.
“We are not looking for any exposure to SpiceJet,” Bhattacharya told reporters on the sidelines of SBI’s launch of technical learning centre.
SpiceJet had cancelled several flights till Thursday after it was barred from advance booking beyond a month by the Directorate General of Civil Aviation (DGCA) early this month.
The civil aviation regulator had said the budget airline needs to submit a plan to pay off Rs 1,600 crore of dues and stay afloat. The airline is in need of Rs 600 crore fresh loan and reports indicate that Ajay Singh, the co-founder of SpiceJet, is looking to invest in the company.
Meanwhile, commenting on loan growth, Bhattacharya said although the bank is seeing a pick up in the corporate loan offtake, the growth in the portfolio so far in the current financial year is muted.
19/12/14 Financial Express
To Read the News in full at Source, Click the Headline
“We are not looking for any exposure to SpiceJet,” Bhattacharya told reporters on the sidelines of SBI’s launch of technical learning centre.
SpiceJet had cancelled several flights till Thursday after it was barred from advance booking beyond a month by the Directorate General of Civil Aviation (DGCA) early this month.
The civil aviation regulator had said the budget airline needs to submit a plan to pay off Rs 1,600 crore of dues and stay afloat. The airline is in need of Rs 600 crore fresh loan and reports indicate that Ajay Singh, the co-founder of SpiceJet, is looking to invest in the company.
Meanwhile, commenting on loan growth, Bhattacharya said although the bank is seeing a pick up in the corporate loan offtake, the growth in the portfolio so far in the current financial year is muted.
19/12/14 Financial Express
