Public sector banks on high alert, watching Cairn’s moves after Air India notice

Top Indian public sector banks with substantial operations abroad are on high alert after Cairn Energy moved to attach assets of national carrier Air India over the weekend to enforce a $1.2 billion arbitration award against the Indian government. Lenders including State Bank of India, Punjab National Bank and Bank of Baroda, which have branches and subsidiaries across the world, are monitoring filings against them in courts abroad and have