SBI rules out restructuring Kingfisher Airlines

The State Bank of India has denied that it would restructure the debt of beleaguered Kingfisher Airlines, owned by liquor baron Vijay Mallya. Speaking to mediapersons in Mumbai, SBI chairman Pratip Chaudhuri said that the airlines has not requested them for a bailout. Commenting on the conversion of their stake in the company into equity, he said that it was a one-off measure meant to ease the burden of the interest rate.