Kingfisher, the downing on ground career, should have raise its equity itself, if it wants fresh loans from State Bank of India (SBI) for reengineering its business process, as stated by a senior officer of the state-owned bank.
Deputy managing director R Venkatachalam announced firm statement about riding to Kingfisher’s rescue on Saturday, he said, “In all these cases it can’t be one-sided. They have to get the capital first. Without that it will definitely be difficult for banks to lend. ”
He further said, “Everything depends on equity infusion – how much comes in, whether that will meet the requirements. First it has to come.” Read more
