Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
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"
Topics
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.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Fri, February 03 2023. 18:56 IST
RECENT NEWS
Monzo Looks For US Banking License
Monzo is preparing a renewed push to secure a US banking licence, four years after abandoning its first attempt when tal... Read more
Crypto Firms Push Into US Banking
America’s cryptocurrency companies are scrambling to secure a foothold in the country’s traditional banking system, ... Read more
Parallel Banking: Stablecoins Are Now Global
Parallel Banking: How Stablecoins Are Building a New Global Payments SystemStablecoins—digital currencies pegged to tr... Read more
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more