Voda Idea calls banks for Rs 7,000 cr emergency loans

Vodafone Idea (Vi) has dialled a host of lenders — State Bank of India NSE -0.18 %, Punjab National Bank NSE 0.53 %, HDFC Bank NSE -0.37 % and IDFC NSE -0.54 % First, among others — to line up loans aggregating upward of Rs 7,000 crore. The bulk of the loans will be used to clear a portion of its dues to Indus Towers NSE 0.19 %, three people aware of the matter said.

“Yes, Vi has approached us for a loan, but we haven’t committed anything to them; it’s at a logjam,” a senior official at a bank told ET.