MUMBAI: Bank unions Friday urged Prime Minister Narendra Modi to take over grounded Jet Airways to secure the future of the 22,000-odd employees of the carrier. In a letter to Modi, the All-India Bank Employees Association also said government must ensure that banks are not forced to lend to the crippled airline. After flying for 25 years, Jet Airways Wednesday announced grounding of operations after its lenders declined an interim funding of ₹400-crore. At the same time the unions opposed any move to force banks to lend more money to the airline. A consortium of banks led by State Bank had said they were hopeful of a successful bidding process for stake sale in the airline.

Source: Mint April 19, 2019 12:56 UTC