Tata Group Picks SBI, BoB, HDFC to Finance Air India’s Old Debt

  • The Tata Group has chosen State Bank of India (SBI), Bank of Baroda (BoB) and HDFC Bankas preferred bankers for India’s largest international airline, ‘Air India’ which was recently taken over by Tata sons from the Government of India.
  • Tata Sons availed aRs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoBthat are unrated, unsecured, and pegged at 25% interest rate annually. (The loan acquired from HDFC is unknown yet).

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