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Exposure in Adani Group Rs 27000 crore, no cause for concern: SBI Chief
By: TP News
Date: 2/3/2023 10:00:20 PM
New Delhi:New Delhi: The State Bank of India (SBI) on Friday said its overall exposure to the Adani Group is at 0.88 per cent of the book or Rs 27,000 crore. “SBI has an overall exposure of Rs 27,000 crore in Adani group which is 0.88 per cent of the loan book as on December 31, 2022,” SBI chairman Dinesh Khara was quoted as saying by news agency .
The SBI chairman said the bank does not envisage the embattled ports-to-mining group facing any challenge to service its debt obligations and stressed that SBI has not given any loans against shares to the group.
The loans are against assets and businesses that are cash-generating. So, we don’t see any challenge, no cause of concern for us,” Khara said.
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, according to news agency. He also said there has not been any refinance request, which has come from the Adani group.