The Central Bank of India on Wednesday stated its excellent publicity to Go First Airlines, which has filed for insolvency, as on March 31 was ₹1,305 crore and a further quantity of ₹682 crore sanctioned underneath the emergency line of credit score assured by the Government of India.
“Our exposure to the company is only 0.91% of our total advances as of March 31, 2023 and interest charged up to April 30, 2023 is serviced by the company,” the financial institution stated in a submitting with the inventory alternate.
In 2022-23, contingency provisions of greater than ₹1,500 crore had been made within the books to strengthen the stability sheet, the Central Bank of India. Shares of the financial institution closed 5.13% decrease at ₹28.65 apiece on the BSE.
