Uncategorized

Bank of India’s loans to aviation sector under Rs.4,000 crore

New Delhi, Sep 10  (Calcutta Tube) Public sector Bank of India Wednesday said its loan exposure to the civil aviation sector does not exceed Rs.4,000 crore.

The bank’s Executive Director, M. Narendra, gave this information on the sidelines of a FICCI summit.

The Reserve Bank of India (RBI) has said it will allow public sector banks to restructure their loans to the sector.

The country’s largest public sector lender, State Bank of India, also said its exposure to the aviation sector stood between Rs.3,000-Rs.4,000 crore.

The aviation sector was in the red until the first quarter of this fiscal. The airlines are now showing profitablity in their balance sheets.

Leave a Reply

Your email address will not be published. Required fields are marked *