Amid Adani Group developments, RBI chief says Indian banking system stronger, larger to be impacted by ‘case like this’

Reserve Bank Governor Shaktikanta Das on Wednesday said the strength, size and resilience of the Indian banking system now are much stronger and larger “to be affected by a case like this” in reference to the developments at Adani Group.

Concerns have been raised in various quarters about Adani Group companies, including about the exposure of lenders to the conglomerate, in the wake of an adverse report by US-based short seller Hindenburg Research that also triggered a massive sell-off in the shares of the companies.

To queries related to the Adani Group, Das said the Reserve Bank of India (RBI) has made its own assessment to come out with the statement on Friday, where it termed the banking sector as strong and resilient.