Air India short term debt gets govt backing
“The Ministry of Finance has approved the unconditional and irrevocable guarantee for Air India NCD bonds today for Rs 7,400 crore,” an Air India spokesperson said.
Air India is burdened with a huge debt of over Rs 43,000 crore, which is a mix of long and short-term debt and working capital loans.
The airline will now credit rate the NCD bonds based on the guarantee issued by the government. The national carrier was banking heavily on NCDs sale to ease the interest cost on the expensive working capital loans.
The Delhi Police is likely to conduct more raids in connection with the IPL spot-fixing scandal. Teams of the Delhi Police's special cell have been sent to Mumbai, Ahmedabad, Hyderabad, and Kolkata to conduct searches and track the money trail in the IPL spot-fixing case.
Date 15 hrs ago, Duration 1:21, Views 227