25-Nov-2011 10:11 AM

Reserve Bank of India approves extension of tenure of loans to Air India

Reserve Bank of India has reportedly approved an extension of the tenure of loans to Air India by five years with the loans now being due for repayment after 15 years (PTI/The Hindu/Reuters, 24-Nov-2011). A consortium of 26 lenders, including the State Bank of India, ICICI Bank and Bank of Baroda, approved the loan recast earlier this week, with the process to reportedly be completed within 120 days of the approval.