Indian Banks Review Adani Group Loans

• Indian banks are reviewing their Adani exposure following the U.S. Court indictment of the group’s founder, Gautam Adani, over an alleged $265 million bribery scheme.

• State Bank of India (SBI) will not stop lending to ongoing Adani projects nearing completion, but will exercise caution when disbursing loans to ensure all terms and conditions are met.

• Other banks, including Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank, and RBL Bank, are also undertaking similar exercises.

• A regulatory source stated that from a banking system perspective, no entity was over-exposed to the Adani group and there was no cause for concern.

• Shares in Adani Green Energy and Adani Energy rose by 10% on Thursday.