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Business & Finance

India’s SBI says further financing to Adani projects to be evaluated on merit

Published February 3, 2023 Updated February 3, 2023 04:55pm
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By Reuters
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MUMBAI: State Bank of India, the country’s largest lender, said on Friday any further financing to projects of the embattled Adani Group would be “evaluated on its own merit”.

SBI’s exposure to the conglomerate was 0.9% of its total loan book, SBI Chairman Dinesh Kumar Khara told reporters on a post-earnings call.

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.

India’s Adani tries to allay concerns as lenders step up scrutiny

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.

State Bank of India Adani Enterprises SBI Adani Group

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SAMIR SARDANA Feb 03, 2023 08:19pm
“evaluated on its own merit” MEANS THAT IN THE PAST IT WAS ON A CALL FROM PMO ADANI IS AN ARM OF THE GOI ! EVEN IN LANKA, PORT RECORDS STATE THAT ADANI WAS THE "NOMINEE" OF THE GOI ! HINDENBERG HAS DESTROYED THE GLOBAL FOOTPRINT OF ADANI IN LANKA ALSO,NOW CHINESE INTEL,WILL SCUTTLE THE PORT ! THEN THEY WILL TARGET HAIFA ! ADANI WAS OVERBIDDING,& CREATING PROBLEMS FOR CHINESE AND OTHER PLAYERS ! HINDENBERG MAY HAVE ACTED ALONE ! BUT IF CHINESE INT - GETS INTO ADANI - IT WILL DIG OUT ALL THE OFFSHORE FUND MOVEMENTS OF ADANI ! IT IS TOO EASY FOR THEM ! IT WILL NAIL THE GROUP - AS ALL INDIAN COMPANIES DO THE SAME THING SO DO CHINESE PVT COMPANIES IN SHANGHAI & SHENZEN STOCK EXCHANGE & THEN,TO LEAK THAT DATA TO THE INDIAN MEDIA,IS EVEN "CHEAPER". INDIAN MEDIA WILL SELL FOR A FEW CENTS ON A ZIMBABWEAN DOLLAR ! HENCE, NOW ADANI HAS TO STAY IN INDIA INDIAN INFRA = ADANI ! IF ADANI IS TAKEN DOWN - INDIAN INFRA IS DEAD ! SAMIR SARDANA
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