The State Bank of India is set to offer a Rs 5,000-crore loan to Adani Enterprises Ltd’s Australian mining company, now renamed Bravus Mining & Resources, as per media reports.
As per media reports, the loan agreement between SBI and Adani Group is nearly done and a ratification is expected from the bank’s executive committee soon.
This could mark the resurgence of on earlier controversy. SBI and Adani had entered into a memorandum of understanding in 2014 for a $1-billion loan. The loan was not executed after it became a political controversy.
Opposition parties had questioned the loan agreement at a time when the mining project was mired in controversy.
