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State-Run Banks On a Tight Rope Due to Jet Airways

Mar 28, 2019 07:58 AM IST India India

Taxpayer funds have forever funded Air India’s – or government’s – inefficiencies and probably would now be stretched to funding Jet’s operations under the new management by state owned banks.​
State owned banks together with other government entities will now own more than 50% in Jet; the government already owns 100% of Air India and both the airlines are heavily indebted besides piling up losses.