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Little Hope for SBI Regarding Kingfisher Dues, will Settle for Less
June 14, 2017
An internal report of SBI states that the lender has no expectations of receiving the full amount that the now grounded Kingfisher Airlines owed to it. So, it plans to settle for whatever possible, which is expected result in a loss of 900 crores.
The total debt received from 14 banks, that lies with the Vijay Mallya’s KA is more than Rs. 5,000 crore. Out of this, more than Rs. 1,200 belongs to the State Bank of India. However, the majority of this amount is unrecoverable.
