After days of freefall, Friday brought mixed news to the Adani Group reeling under the impact of the Hindenburg report and the cancellation of its FPO.
Without naming anyone, the Reserve Bank of India (RBI) said Friday, a day after it asked banks for details on their Adani exposure, that the banking sector remains resilient and stable. And that the central bank remained vigilant and continues to monitor the stability of the country’s banking sector. Two rating agencies Fitch and Moody’s downplayed concerns while S&P red-flagged Adani Ports and Adani Electricity.
“There have been media reports expressing concern about the exposures of Indian banks to a business conglomerate.
