The government today said that telecom service provider Bharti Airtel has approached State Bank of India (SBI) for two separate loans of $1 billion and Rs 5,000 crore, which is yet to be finalised.
In a written reply to the Lok Sabha, Minister of State for Finance Namo Narain Meena said, "Bharti Airtel has approached SBI for loans of $1 billion and Rs 5,000 crore."
However, the Minister added that the details of the loans to Bharti Airtel have not been finalised by the bank.
Bharti Airtel and South African telecom firm MTN both are in duologue for a possible alliance. The two parties have extended the date of exclusive talks to August 31.
Meena further said that for giving the loan SBI is not required to seek approval from the market regulator - Securities and Exchange Board of India.
"Any regulatory or other clearance is required to be obtained by the borrowers themselves," Meena added.
