Minister of state for finance Namo Narain Meena informed the Parliament that Bharti Airtel has applied for $ 2 billion in loan from Sate Bank of India (SBI). This disclosure even as speculations suggest that Bharti is under pressure to increase its offer to MTN.

SBI is yet to finalise the details of the loans informed the Minister and the loan would be subject to clearance from relevant agencies which will have to be acquired by Bharti.

Bharti is also reported to be in talks with JP Morgan, BNP Paribas, HSBC Bank and Barclays Bank for fund raising towards the deal.