March 20, 2012 4:50 PM

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SBI did not provide lifeline to Kingfisher

The government today said that State Bank of India (SBI) has not extended any life-line to the cash-strapped Kingfisher Airlines this fiscal. In a written reply to the Rajya Sabha, Minister of State for Finance, Namo Narain Meena said that SBI, the leader of the consortium of lender banks, has informed that no such life-line has been extended to the airlines by them during the current financial year. He said this in response to a question whether the SBI and other PSU lenders have extended a 1,200 crore rupees life-line to the Kingfisher Airlines Ltd. by converting part of loans into equity.

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