Bank union writes to PM Narendra Modi, urges govt to take over Jet Airways

The government should take over Jet Airways and ensure that state-owned lenders don't give more money to the grounded airline, said a banks union in a letter to the Prime Minister on Friday.

In a letter to the prime minister, AIBEA general secretary C H Venkatachalam said that banks had already extended credit of around Rs 8,500 crore to Jet Airways and these loans had turned non-performing since the company had not been able to service them.  

"This has not happened overnight and the airline has been facing problems for the past few years. Yet, banks helped the company