100% stakes in Air India for NRIs

In an effort to expedite the sale of Air India, the government has now permitted non-resident Indians (NRIs) to acquire up to 100 per cent stake in the national carrier. Earlier this limit was 49 per cent. Bids can be submitted by March 17.

Under the latest plan, the successful bidder would take over only debt worth Rs 23,286.50 crores. This is the second attempt by the government to divest the loss making airlines.