State Bank of India (SBI) has given loans worth Rs 21,000 crore to Adani Group firms according to a report in Bloomberg. This amount is half of what the State Bank of India is allowed to lend under the rules. Bloomberg citing a source said that Adani group companies affected by the turmoil are servicing loans and the bank does not see any immediate challenge to what the bank has lent so far. Adani group shares have seen sharp decline since Hindenburg research report accused it of fraudulent business practices. Hindenburg Report on Adani Group: AAP MP Sanjay Singh Gives Suspension of Business Notice in Rajya Sabha on Adani Issue.
SBI Loans to Adani Group:
State Bank of India has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under rules, a person familiar with the matter says https://t.co/gHoZkJGJPd
— Bloomberg (@business) February 2, 2023
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