No more credit to KFA, home loans raking revenue: SBI

Written By Unknown on Kamis, 22 November 2012 | 12.44

Pratip Chaudhuri, chairman, State Bank of India ( SBI ), says that the bank is urging Kingfisher to take action on urgent basis and a consortium meeting is scheduled for next week.

Below is the edited transcript of his interview to CNBC-TV18.

Q: What is the update on the standing on the last meeting with Kingfisher Airlines (KFA) and the lenders? What is the new deadline set by SBI for the KFA management?

A: KFA has not informed SBI of any further developments. The position continue to remain the same.

Q: Will SBI wait till 30th November to hear from the company or do you feel that since the Diageo deal has gone through, now there is a possibility that promoters might put up some money and some of your issues might be resolved?

A: We'll not jump to any conclusion but we are urging the company to do things on urgent basis. A consortium meeting is scheduled for next week so we are not putting any deadlines. The Diageo deal affects United Spirits Ltd (USL) so we cannot infer that will automatically bring in money to KFA. The company has to disclose what their plans are.  

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