Jet Airways loan recast to be under Sashakt scheme: SBI Chief Rajnish Kumar

Lenders to ailing private airline Jet Airways will restructure loans under the ‘Sashakt’ plan for resolution of stressed assets outside the insolvency courts.

SBI chairman Rajnish Kumar in a media call after Q3 results said there is effort going on to resolve (jet). It (Jet debt recast proposal) will go to screening panel at Indian Bank’s Association (IBA). The detailed will be revealed when it is finalized.

The ‘Sashakt’ plan for resolution became operational in December 2018 after months of delay.  Lenders are supposed to send resolution proposals under “the scheme” according to the terms and conditions of the inter-creditor