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SBI Says Further Financing To Adani Projects To Be Evaluated On Merit
State Bank of India, the country's largest lender, said on Friday any further financing to projects of the embattled Adani Group would be "evaluated on its own merit"
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sbi | Adani Enterprises
MUMBAI (Reuters) - State Bank of India, the country's largest lender, said on Friday any further financing to projects of the embattled Adani Group would be "evaluated on its own merit".
SBI's exposure to the conglomerate was 0.9% of its total loan book, SBI Chairman Dinesh Kumar Khara told reporters on a post-earnings call.
There were no concerns so far regarding SBI's exposure to the Adani Group, and the lender does not see any challenge from the conglomerate, led by billionaire Gautam Adani, to service debt obligations, Khara added.
Adani is reeling from a scathing U.S. short seller report that has cratered its shares and prompted calls from opposition lawmakers for a wider probe and the central bank to check on banks' exposure.
(Reporting by Siddhi Nayak and Chris Thomas; Editing by Nivedita Bhattacharjee)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Fri, February 03 2023. 18:56 IST
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