BREAKING ITS silence since the Adani Group stocks started falling after US-based Hindenburg Research last week levelled allegations of “brazen stock manipulation and fraud” against the group’s companies, the government Friday said the exposure of banks and insurers was within “permitted limits”.
“Both SBI and LIC have issued detailed statements… the Chairperson, the CMD has himself come out and explained how they are not overexposed… and also said, look, we are sitting over profits for the exposure… They have very clearly said their exposure is well within the permitted limits and they are even now – with the valuation falling as well – sitting over profit,” Union Finance Minister Nirmala Sitharaman said in an interview to Network18.
