The call for financial support by the new Satyam board that is likely to be answered by the state-owned financial institutions. The firm needs funds for the future functioning, to pay salaries and bills and therefore it has approached various banks and financial institutions.

Institutions including Life Insurance Corporation (LIC), IDBI Bank and Bank of Baroda (BoB) have agreed to lend funds to the fraud-hit company. The Satyam board have asked lenders for a loan amount of Rs 9,00 crore for one year. A banker familiar with Stayam development said, "The IT company needs about Rs 1,700 crore in the near future for its functioning including salary payment and establishment cost. The gap between the income from clients and company requirement is close to Rs 900 crore."

Although the lenders have given a nod to provide funds to the ailing firm but at the same time they have clarified that general purpose loan will not be extended by them. Sources said that "Banks will lend only against receivable or against pledge of some physical property." The money will be lent to Satyam only after the lenders are satisfied with the securities provided by the firm. The loan is expected to be given by the lenders at their prime lending rate that ranges between 12.5% and 13.5%.

BoB has already been one amongst the Stayam's bankers whereas IDBI and LIC are going to be the new lenders to the firm. The new board of Stayam is struggling hard to retain the firm's employees as well as the customer base.

Meanwhile in the medium-term, the firm needs new promoters in order to survive in the industry. India's largest engineer and builder, Larsen & Toubro (L&T) has come forward to buy 12% stake in the firm. However this stake offer may be a hindrance at a time when the board's focus has been to put the damaged company back on track.

The newly appointed Stayam board by the government includes HDFC chief Deepak Parekh, Nasscom's former chief Kiran Karnik, former SEBI member C Achuthan and others.

Further the Reserve Bank of India (RBI) informed that the bank exposure to the IT major is relatively small and it has not caused any systemic risk. "Numbers are relatively small since Satyam was a not very leveraged company," said RBI's governor D Subbarao.