SBI says further financing to Adani projects to be evaluated on merit
1 min read . Updated: 03 Feb 2023, 05:09 PM IST
Premium- There were no concerns so far regarding SBI's exposure to the Adani Group, and the lender does not see any challenge from the conglomerate, led by billionaire Gautam Adani, to service debt obligations, Dinesh Khara said
State Bank of India Chairman Dinesh Kumar Khara told reporters on a post-earnings call that the lender does not envisage any challenge from Adani Group to meet debt obligations and also there is no lending against shares to conglomerate: SBI Chairman. He further said that SBI's total exposure to Adani Group is 0.9 per cent of overall loan book.
There were no concerns so far regarding SBI's exposure to the Adani Group, and the lender does not see any challenge from the conglomerate, led by billionaire Gautam Adani, to service debt obligations, Khara added.
Lending to Adani Group projects is with regard to ones having tangible assets and adequate cash flows, Khara said, adding that the group has an excellent repayment record.
He also said there has not been any refinance request, which has come from the Adani group
Adani is reeling from a scathing U.S. short seller report that has cratered its shares and prompted calls from opposition lawmakers for a wider probe and the central bank to check on banks' exposure.
