SBI board wanted letter of support from govt before approving Jet Airways resolution plan: Rajnish Kumar

SBI’s board members were keen on a letter of support from the government before giving a nod to the resolution plan of crisis-ridden Jet Airways, the bank’s former chairman Rajnish Kumar has said.

In his book titled ‘The Custodian of Trust’, Kumar said dealing with the Jet Airways issue was one of the most difficult assignments that he had faced during his eventful term as the head of the country’s largest lender.

Most of the banks were extremely reluctant to support a resolution plan for Jet Airways, he wrote while recalling the developments with regard to the resolution plan of the airline which unfortunately could not get through as promoters were not able to fulfill the required conditions in the stipulated time.