State Bank of India (SBI), the country's top lender, has not given fresh loans to debt-crippled Kingfisher Airlines, an official said, denying reports that the state-owned creditor was close to offering a bailout loan package.
"We have not given any fresh loans to Kingfisher," said R Venkatachalam, a deputy managing director of the bank, who is responsible for managing the Kingfisher loan account. "All media reports are baseless and untrue."
The bank is not considering giving any fresh loans to Kingfisher as of now, he said.
Several newspapers reported that SBI would throw a lifeline to Kingfisher, which is majority owned by liquor baron Vijay Mallya, giving figures ranging from Rs 200 crore to Rs 1,650 crore.