TNI Bureau: At a time when the shares of Gautam Adani’s firms are facing crises as their shares continue to plunge following the Hindenburg Research’s report, a report of Bloomberg revealed that the State Bank of India (SBI), has given loans worth more than Rs 21,000 crore to Adani.
Bloomberg’s report also claimed that more than Rs 1,600 crore of the amount was granted to Adani Group through SBI’s overseas units.
Not only the SBI alone but also the Punjab National Bank (PNB) had revealed that Adani Group firms had taken Rs 7,000 crore as loans.
Similarly, private banks like IDFC First and IndusInd Bank had issued loan to Adani. While IDFC First has exposure to Adani equal to 0.1 per cent of its loan book, the IndusInd Bank has lent 0.49 per cent of its loan book.
Meanwhile, expressing it’s concern about the exposure of banks to the Adani Group and the risks they face, the Reserve Bank of India (RBI) has reportedly sought details from banks about their exposure to the Adani Group’s Firms.