SBI gave Rs 21,000-cr loans to Adani Group firms: Report

Country’s largest public lender State Bank of India has given loans of as much as Rs 21,000 crore ($2.6 billion) to Adani Group firms, said a report on Thursday. This is half of what is allowed under rules, reported Bloomberg quoting a source.

SBI’s exposure includes $200 million from its overseas units, said the report. Dinesh Kumar Khara, chairman of SBI, said earlier on Thursday the tumult-hit Adani Group companies were servicing the loans and he doesn’t see an “immediate challenge” to whatever the bank has lent so far.

FILE PHOTO: A man checks his mobile phones in front of State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri

On Thursday, SBI’s scrip on BSE was trading nearly flat at Rs 527.75.

Adani Group firms’ stocks lost combined market capitalisation of over $100 billion in the past week due to a scathing report by US-based short seller firm Hindenburg Research. 


Never miss any important news. Subscribe to our newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *