State Bank of India plans coal-loan policy before key auctions, could put 41 mines in private hands
State Bank of India NSE 1.62 % is creating a policy to lend to coal miners before landmark auctions that would end decades of state monopoly on the fuel, according to a person with knowledge of the matter.
Long-term offtake contracts assuring demand will be central to any lending decision, the person said, asking not to be identified before terms are finalized. The nation’s biggest bank would prefer a loan tenor closer to five years, the person added.
