Repayment of interest-free loan by BIAL put off

Bengaluru | Saturday | 23rd June, 2018

Summary:

| Photo Credit: G_P_Sampath Kumarmore-inThe State cabinet has put off repayment of the interest-free loan granted by the Karnataka government to Bengaluru International Airport Limited (BIAL) by 10 years. However, instead of granting financial support, the government had decided to put off repayment of the loan, he explained. The BIAL had sought financial support from the government for construction of the second runway. The repayment of the loan was to begin this year. Pointing out that the State government had given an interest-free loan of ?333.50 crore to the BIAL and its repayment was supposed to start this year, the minister said the cabinet had decided to put it off as a gesture of support to the ongoing work of building the second runway to cater to the increasing air traffic..