Adani Group Debt Axis Bank Told About Total Loan To Gautam Adani Companies
Adani Group: The Reserve Bank of India had sought information from all the banks regarding the loan on the Adani Group. Now the private sector Axis Bank has replied that the loan given by the bank to Adani Group is 0.94 percent of the total loan. Giving information in a regulatory filing, the bank said that we give loan amount to any company only on the basis of security, liability and ability to repay the loan.
The bank further said that for this reason we are comfortable on the loan given to Adani. The bank said that the fund based loan is 0.29 percent, while the non fund based loan is 0.58 percent. According to the figures of 31 December 2022, the bank has invested 0.07 percent. Axis Bank stated that it has a strong balance sheet with standard asset coverage of 1.53 per cent as on December 31, 2022.
Loan given for which sectors
The bank has given information in its filing that loans have been given to Adani Group’s sectors like power, transmission, port, gas distribution. Before Axis Bank, the country’s largest bank SBI was also informed about the loan given to Adani Group. The bank had told that the loan given is 27 thousand crore rupees. The bank had said that there is nothing to worry about.
These banks also gave loans
Before Axis, SBI had told that it had given a loan of Rs 27,000 crore. At the same time, the second largest Punjab National Bank (PNB) has an outstanding of Rs 7000 crore. In addition, Bank of Baroda has a total outstanding of Rs 7,000 crore. Banks has denied any concern.
Crisis continues on Adani Group
Let us tell you that the sharp decline in the stock of companies of Adani Group is happening after the report of America’s short selling firm Hindenburg. The US firm had accused the firm of fraud and valuation of shares, which has been rejected by the Adani Group. Hindenburg released the report on Adani Group on 24 January. After this, Adani Group withdrew its FPO worth Rs 20,000 crore.