INSUBCONTINENT EXCLUSIVE:
airline under the 'Sashakt' scheme, State Bank of India (SBI) Chairman Rajnish Kumar said on Friday.Speaking at a concall after the third
quarter earning results on Friday, Kumar said the debt recast proposal would go to the screening panel of Indian Banks' Association
(IBA).Recently, Jet Airways has been in a tight spot financially as a rescue plan is said to be stitched between its partner Etihad and a
consortium of banks.The airline has a loan burden of over Rs 8,000 crore and it could see some of that amount being converted into equity by
the banks.In a stock exchange filing on January 28, Jet Airways said an Extraordinary General Meeting (EGM) of the company would be held on
February 21.It said a special resolution would be put forth at the EGM to consider and "to approve conversion of loan into shares or
convertible instruments or other securities".Find LIVE Budget 2019, updates, latest news, videos, key highlights, reactions, tax and policy
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