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Banks May Lose ₹4,300 crore on Loans to Kingfisher Airlines

A consortium of 14 banks is expected to lose nearly ₹4,300 crore on account of loans given to the grounded Kingfisher Airlines that was headed by Vijay Mallya who is currently a fugitive from law in the United Kingdom. This has been disclosed in an internal document prepared by the country's biggest bank, the State Bank of India, which alone stands to lose ₹900 crore. The actual losses may well be even higher than these estimates.
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