CURRENT AFFAIRS

Detailed explanation-1: -The correct answer is State Bank of India, Bank of Baroda and HDFC Bank. The Tata Group has chosen State Bank of India, Bank of Baroda (BoB) and HDFC Bank as preferred bankers for Air India. Tata Sons has availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoB.

Detailed explanation-2: -Tata Group-owned Air India will borrow ₹18,000 crore through one-year loans from the State Bank of India (SBI) and Bank of Baroda (BoB) to refinance existing debt over the short term, even as it plans to tap longer tenure loans later this year, said people with knowledge of the matter.

Detailed explanation-3: -From Tata Air Lines and the long-since nationalised Air India to strategic joint ventures with AirAsia Berhad and Singapore Airlines (SIA) for AirAsia India and Vistara, respectively, Tata has constantly reached for the skies.

Detailed explanation-4: -Tata Group has chosen State Bank of India, Bank of Baroda and HDFC Bank as preferred bankers for Air India.

Detailed explanation-5: -India’s largest conglomerate Tata Sons at present owns four airlines, Air India and its other arm Air India Express, along with a majority share in Vistara and AirAsia India. Recently, Tata Sons declared that it would merge Air India with Vistara.