IDBI positive about regaining Kingfisher dues
By Joseph Samson
Oct 3, 2013
Print    Email    RSS   

IDBI Bank, one of the PSU banks to provide funds to the beleaguered Kingfisher Airlines, is now hopeful about regaining 80% of the amount extended by it to the airline company, whose chances of revival are still very faint. According to IDBI Bank’s one of the senior officers, the bank is likely to recover 70 to 80% of the loan amount given by it to Kingfisher Airlines. He also added that the bank’s total exposure was around Rs.800 crore and the bank has been successful in recovering around Rs.70 to 80 crore.

The airlines company had borrowed funds from 17 banks in all and stopped repaying them since January 2012. For this purpose, a group was created this year, with SBI leading the group to recover just the principal amount of Rs.7500 crore from Kingfisher Airlines. IDBI Bank is one of the core members of this loan recovery group.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Tax Planning for Working Women in India
Bank loans that could glitter for you
RBI reports 19.73% credit growth of banks...
Choose right repayment plan for home loans
Home Loans come with Tax Rebates!

PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive