The banks will offer the shipbuilder INR 30bn ($491m) towards working capital and advance payment guarantees.
Bharati’s total debt will reach INR 80bn as a result.
Lenders have appointed management consultant Alvarez & Marsal (A&M) to help turn its fortunes around.
"The additional loan facility will help us restart our yards as there is no dearth of shipbuilding orders," a yard official told the DNA daily.
He