National carrier Air India is looking to raise Rs 500 crore through short-term borrowings to meet its working capital requirements. "Air India is inviting bids for government-guaranteed short-term loans (STLs) totalling to Rs 500 crore to meet its urgent working capital requirements," the bid document said. In July, the government had sought Parliament's approval for Rs 980 crore in supplementary grants towards equity infusion in the national carrier. In the current fiscal year, it has received an equity infusion of Rs 650 crore up to June. Air India has received an equity infusion of Rs 27,195.21 crore so far.

Source: dna September 07, 2018 13:30 UTC