Govt asks banks to save Jet Airways from bankruptcy ahead of polls: Report
Govt asks banks to save Jet Airways
Last Updated at June 20, 2019 13:15 IST
India's government has asked state-run banks to rescue privately held Jet Airways without pushing it into bankruptcy, as Prime Minister Narendra Modi seeks to avert thousands of job losses weeks before a general election, two people within the administration told Reuters.
The finance ministry has in the past year sought regular updates from the banks, led by State Bank of India (SBI) , on Jet's financial health, the people said. In recent months, the banks have provided weekly updates about a revival plan and also sought government advice, the people added. "Top ...
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First Published: Tue, March 19 2019. 16:31 IST