SBI exposure at Rs 27,000 cr

MUMBAI: The country’s largest lender SBI on Friday said its overall exposure to the Adani Group is at 0.88 per cent of the book or around Rs 27,000 crore.

SBI chairman Dinesh Khara 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.

Lending to Adani Group projects is with regard to ones having tangible assets and adequate cash flows, Khara said, adding the group has an excellent repayment record. He also said there has not been any refinance request, which has come from the Adani group.

Meanwhile, the Reserve Bank on Friday said India’s banking sector is resilient and stable, and the central bank maintains constant vigil on the lenders. Responding to media reports expressing concern about the exposure of Indian banks to a “business conglomerate”, the RBI said in a statement it is constantly monitoring the banking sector. However, the RBI did not name the Adani Group in the statement.