With 7000-cr debt, banks will collectively decide on KFA

October 26, 2012 18:40

Even as Kingfisher lifted its lockout, questions remained over whether the lenders will restructure the beleaguered airline's over Rs 7,000 crore loans, with the Punjab National Bank today saying that all banks will have to take decision on it collectively.

"The group of banks will take a call on Kingfisher account as to how to go about it ... It will be a collective decision of all banks. Date of the meeting will be decided by the State Bank," PNB Chairman K R Kamath told reporters here.

The 17-bank consortium has total exposure of over Rs 7,000 crore to the airline. SBI, the lead banker in the consortium, has over Rs 1,500 crore of exposure to the company.

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