Amid growing political heat over the loss of public money in Adani Group’s stock rout, Union Finance Minister Nirmala Sitharaman on Friday said the exposure of LIC and SBI to billionaire Gautam Adani-led firms are within permitted limits and would not have any major impact on the Indian banking system.
“They (LIC and SBI) are not overexposed. Their exposure is very well within permitted limits,” Sitharaman said in an interview with a private news channel.
State Bank of India’s (SBI) exposure to Adani Group companies is close to Rs 27,000 crore, which is around 0.8 to 0.9 per cent of the bank’s loan book, according to SBI Chairman Dinesh Khara.
