Indian Banks Assess Adani Group Exposure

29 Nov 2024 , 09:16 AM

Following allegations that Indian banks are reassessing their exposure to the company, Adani stocks will be the subject of attention on Friday. This comes after U.S. authorities accused Chairman Gautam Adani and others of bribery and fraud.

According to a Reuters article, private lenders including ICICI Bank, Canara Bank, IDBI Bank, and RBL Bank are also participating in the study, which is being led by public sector banks like the State Bank of India (SBI), Bank of India, and Union Bank of India.

The lenders’ credit policy towards the group would not necessarily alter as a result of a review.

According to news reports, there is no need for fear from the standpoint of the financial system because no company is now overexposed to the organisation.

With approved loans totalling Rs 33,800 crore ($4 billion), SBI has the most exposure to the Adani Group of any Indian bank.

According to insiders, SBI will continue to lend to ongoing Adani projects that are almost finished, but it will be cautious when making loan disbursements to make sure the group is meeting all terms and conditions.

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