PNB has Rs 70 billion exposure to Adani Group but it is not a matter of worry: CEO
NEW DELHI: Punjab National Bank (PNB) has a total exposure of 70 billion rupees ($859.30 million) to Adani Group, but it is not a matter to worry, managing director Atul Kumar Goel said on Monday.
Addressing a press conference after the company’s quarterly results, Goel said that the bank is keeping a close watch on situation developing following the damning report by US-based short seller Hindenburg Research.
“PNB has Rs 7,000 crores exposures in 8-9 companies of Adani Group. Our exposure is mostly in Airport business of Adani. I don’t need to worry on the current issue of Adani as most of the exposure is generating money to pay their dues. We are keeping our eyes on the issue,” Goel said.
