SBI’s exposure to Adani is for assets with adequate cash-flow, says Chairman Dinesh Khara

SBI Chairman Dinesh Kumar Khara on Friday said that the bank’s lending to Adani group companies are only to projects that are tangible assets and have good cash flow and so it was not worried about stock market volatility.

“We have lent to Adani for projects which are having tangible assets and adequate cash generation. They have been in a position to meet their obligations. We have not extended any loan against shares. There is no such portfolio which we have. So the impact of the stock market prices of the stocks will not really impact any of the margin calls and any of the loans which they have raised from us,” he said.

Adani stocks have been routed over the last week following short seller Hindenburg’s report claiming market manipulation, accounting fraud and use of offshore shell companies for money laundering, allegations that the conglomerate refuted.