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Jet Airways resolution plan to be crystallised very soon, says SBI chairman Rajnish Kumar

Updated : January 18, 2019 09:41 AM IST

In an interview with CNBC-TV18, State Bank of India (SBI) chairman Rajnish Kumar on Friday said the resolution plan for Jet Airways would be crystallised  very soon.

Debt-laden Jet Airways on Wednesday said State Bank of India (SBI) along with other lenders and stakeholders is working on a comprehensive resolution plan to turnaround the airline.

Sharing his outlook on the banking industry, Kumar said, “Things seems to be looking much better. In terms of recovery, banks provision coverage ratio has gone up, fresh slippages are down, growth in credit which is now averaging 15 percent, so these are all positive pointers as far as the banking industry is concerned."

About Essar Steel, he said, “There is a time value for money and the way we have worked out it is that we are putting time value for the realisable amount and that is how the entire offer-for-sale (OFS) has been restructured so the message is all around that every day, it is costing lenders Rs 17 crore, my share is nearly 25-30 percent. So we don’t want to wait indefinitely.”

On liquidity situation, he believes RBI is maintaining the liquidity deficit at macro level which is well within their targeted level. “As of now if you look at any other indicator or measure of liquidity, things are normal,” he added.
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