How much Loan did sbi provide to the adani Group?
The largest bank in the country, State bank of india (SBI), announced on friday that it has provided adani Group companies with a loan of around Rs 27,000 crore, or 0.88 percent of all loans disbursed. According to sbi Chairman Dinesh Khara, the bank does not believe that the adani group will have trouble repaying its debts. Additionally, he said that sbi had not provided this group with a loan in exchange for shares.
Dinesh Khara claimed that when providing loans for the adani Group's projects, consideration was given to actual assets and adequate cash flow. He added that this firm has a very solid track record of repaying its outstanding loans. In response to concerns that lending institutions may be hurt by the significant decline in adani group shares over the past few days, the sbi chief stated that the group has not made any requests to refinance the loan.
No challenge in repayment of loan
After the report of America's short selling form Hindenburg Research, RBI had issued a notice to all the banks seeking information regarding the loan given to adani Group. RBI asked banks how much loan they have given to adani Group companies and what is its status? sbi told that it had given a loan of about Rs 27,000 crore to adani Group companies. The bank said that we do not see any challenge to the fulfillment of loan commitments by the adani group. No loan was given to the group against the shares.