RBI asks banks to share information on exposure to Adani Group companies
The Reserve Bank of India (RBI) has stepped in to take stock of commercial banks’ exposure to the Adani group after the shares of the firms in the conglomerate fell sharply following US-based short-seller Hindenburg Research’s report accusing it of stock manipulation and accounting fraud.
According to bankers, on Wednesday the regulator asked lenders to furnish the details of the loans sanctioned and those outstanding to the Adani group as on January 31.
“We submitted the details on Wednesday itself,” said an official of a large bank.
Last week, rating agencies sought similar details from commercial banks.
