India banks are reviewing Adani Group exposure after US charges, sources say

IIFL Capital Services

28/11/2024 10:04

By Siddhi Nayak, Sarita Chaganti Singh and Nikunj Ohri
       MUMBAI/NEW DELHI, Nov 28 (Reuters) - Indian lenders,
including State Bank of India  SBI.NS , are reviewing their
exposure to Adani Group and examining whether they need to
tighten their due diligence when offering new loans to them,
after the U.S. accused Chairman Gautam Adani of bribery, eight
bankers said.
    Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI
Bank and RBL Bank, which have a relatively smaller exposure to
the group, are also undertaking a similar exercise.
        A review would not necessarily entail any change in the
lenders' credit approach with regards to the group. 
  

 (Reporting by Sarita Chaganti Singh and Nikunj Ohri in New
Delhi and Siddhi Nayak in Mumbai; Editing by Kim Coghill)