Lenders wary of giving new loans to Adani group even as RBI takes stock
Hindustan Times|January 31, 2023
Local lenders to the Adani group are wary of providing new loans to the group, at least in the near term, two senior bankers said, with one saying that officials from the Reserve Bank of India (RBI) last week requested data on the bank's exposure to the conglomerate.
Shayan Ghosh
Lenders wary of giving new loans to Adani group even as RBI takes stock

MUMBAI: Bankers have become cautious of their involvement with the group after the US-based Hindenburg Research alleged stock manipulation and fraud by Adani Group companies. The Adani group has, in turn, called the allegation "a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive".

According to Adani's statement, the banks that deal with it include State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda, among others. The group's aggregate gross debt is about $30 billion, of which local banks have a share of $9 billion, chief financial officer Jugeshinder 'Robbie' Singh told CNBCTV18 on Monday.

This story is from the January 31, 2023 edition of Hindustan Times.

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This story is from the January 31, 2023 edition of Hindustan Times.

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