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State Bank of India (SBI) Lends 210 Billion Rupees to India's Adani Group
2023-02-08 11:27:03 来源:www.bvrcn.com Brand Value Network
State Bank of India (SBI) Lends 210 Billion Rupees to India's Adani Group
On February 2, 2023 local time, according to a report provided by the relevant agency, India’s largest public bank, State Bank of India provided up to 210 billion rupees ($2.6 billion) loans to Adani Group.
SBI's risk exposure included $200 million from its overseas subsidiaries according to the report. Dinesh Kumar Khara, Chairman of State Bank of India said earlier on Thursday that these loans were being repaid by companies owned by the Adani Group, and he did not see an "immediate challenge" to the loans the bank had issued so far.
State Bank of India's BSE token was almost flat at 527.75 rupees on Thursday. Earlier on Thursday, Reserve Bank of India (RBI) had asked SBI to provide details of its exposure to Adani Group companies. The information the RBI is seeking for includes details of the collateral used to back the loan, as well as any indirect risks the bank may have.
“Adani’s exposure is nothing to worry about and we don’t have any concerns at the moment,” Adani’s Kalla said last week, adding that Adani had not raised any funds from the bank recently.
Societe Generale said in a note on Wednesday that the direct exposure of the Indian banking sector to Adani Group is only 0.6%. The sell-off in bank stocks appears to have been overdone, with the market "overvaluing" the exposure of Indian banks to Adani Group, as the report said.
The Nifty Bank index has fallen 5.4 percent since the New York-based short-seller's report, while State Bank of India shares have fallen 11 percent.
According to the Brand Value (China) Network, the State Bank of India was also dragged down in the process of Wall Street's "bloodbath" of Adani. On the "Daguan·the 2nd World Brand Value Top 900" list officially released on July 30, 2022, the State Bank of India 's brand value was 45.356 billion yuan, ranking No. 608; Societe Generale 's brand value was 81.40 billion yuan, ranking No. 340.
www.bvrcn.com Brand Value Network
作者:肴筱临
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