Jet Airways not classified as NPA yet, says PNB chairman
New Delhi: The chairman of Punjab National Bank, Sunil Mehta, said that the state-owned lender has not classified Jet Airways as a non-performing asset yet. He said the bank’s exposure to Jet Airways is less than ₹900 crore.
On Tuesday, in its fourth quarter results, the bank announced fresh slippages to the tune of ₹6,710 crore and had written off loans worth ₹2,981 crore.
Mehta said the lender might receive write back of ₹4,000 crore in forthcoming quarters from NCLT cases.
Mehta said the bank has made provisions for IL&FS and Jet Airways as per regulatory norms and expects ” a positive outcome” from talks with the beleaguered airline.
The chairman said PNB has been providing liquidity to good quality NBFCs and will continue to support the sector.
