Cash-strapped Vodafone Idea in talks with SBI for fresh loans: Report

Vodafone Idea is reportedly in talks with the State Bank of India (SBI) for a fresh loan to support future operations for a turnaround in its business.

Cash-strapped telecom company Vodafone Idea (VI) is reportedly in talks with the State Bank of India (SBI) seeking fresh loans as it plans to boost its survival chances in future.

If VI plans to chalk out a deal with the country’s biggest public lender, it could pave the way for other banks to offer credit to the telecom company, reported Bloomberg after speaking to people familiar with the matter.