Bankers weigh all options to save Jet Airways without getting hit

Banks have reason to be circumspect about prospects of recovering money

Bankers are scrambling to find a viable option through which money can be infused in Jet Airways. But they are also not willing to take more risks, given their past experience.

Besides, Supreme Court scrapping the February 12, 2018, order of the Reserve Bank of India (RBI) meant that banks can no longer convert Jet’s debt into equity at a nominal rate, but will have to do it now according to a formula set by the market regulator Securities and Exchange Board of India (Sebi). The rules are relaxed from the capital markets side if the company is in corporate