Tatas chooses SBI and two other banks to finance Air India’s old debt

Tatas chooses SBI and two other banks to finance Air India’s old debt

Daily Current Affairs   /   Tatas chooses SBI and two other banks to finance Air India’s old debt

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Category : Business and economics Published on: February 01 2022

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  • The Tata Group has chosen State Bank of India, Bank of Baroda, and HDFC Bank as preferred bankers for Air India.
  • Recently Tata Group has taken over Air India from the government. 
  • Air India is the largest international carrier out of India with an 18.6% market share. 
  • Tata Sons have availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoB. 
  • The loan from HDFC Bank is not known yet. The loans are unrated, unsecured, and pegged at 4.25% [interest rate] annually.
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