Air India has sought approval from the Reserve Bank of India (RBI) to convert a major portion of its Rs18,000 crore of working capital loans into term loans with a moratorium of two to three years on principal repayments as part of a financial restructuring plan. Air India and SBI Capital Markets (SBICaps) an arm of State Bank of India representing a consortium of banks, have approached RBI with the proposal.
AIR INDIA FINANCING UPDATE:
Air India has sought approval from the Reserve Bank of India (RBI) to convert a major portion of its Rs18,000 crore of working capital loans into term loans with a moratorium of two to three years on principal repayments as part of a financial restructuring plan. Air India and SBI Capital Markets (SBICaps) an arm of State Bank of India representing a consortium of banks, have approached RBI with the proposal.