Exposure to Go First Airlines 0.91% of total advances, says Central Bank of India

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Exposure to Go First Airlines 0.91% of total advances, says Central Bank of India


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.



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