New Delhi
Reserve Financial institution seeks particulars of loans given to Adani group firms from banks. US-based Citibank and Swiss banking group Credit Suisse have mentioned they won’t lend in opposition to Adani Group bonds. Citibank has introduced that Adani bonds have misplaced worth utterly. Nevertheless, SEBI is but to announce an inquiry into the fraud dedicated by the Adani Group within the inventory market.
Bloomberg reported that SBI has loaned Adani Group Rs 21,500 crore. Punjab Nationwide Financial institution has given Rs 7,000 crore and Financial institution of Baroda Rs 4,000 crore. Credit info of different banks isn’t accessible.
Funding agency CLSA revealed that the overall debt of Adani Enterprises, Adani Ports, Adani Energy, Adani Green and Adani Transmission stands at Rs 2.1 lakh crore. Indian banks account for 40 % of Adani’s whole liabilities. The legal responsibility in personal banks is lower than 10 %.
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