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Lenders will give all chances to KFA: SBI chief

Bangalore, Feb 11, 2013, PTI

Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said on Monday.

The chief of State Bank of India, which heads the 17-member lenders’ consortium, also said, “We don’t give up hope till they say no.”

The 17-bank consortium has extended Rs 7,000 crore loans to Kingfisher. SBI alone has an exposure of Rs 1,500 crore, which has not been serviced since January, 2012.

“This (meeting of lenders) will be happening soon ... we are giving every opportunity to the company to restart operation. We are also mindful of the outstanding that the company owes to the bank. So we are doing fine balancing act,” he said.

Asked if SBI’s NIM would be hit because of cut in the lending rate, Chaudhuri said its impact would be neutral.


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