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SBI’s Confidence in the Adani Group is a win-win partnership

In order to improve the productivity of crops and the efficiency of farm operations, the Adani SBI have signed a master agreement for co-lending to farmers for the purchase of tractors and other farm equipment.

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SBI’s Confidence in the Adani Group is a win-win partnership

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  1. The State Bank of India (SBI), India’s largest lender, has expressed its confidence in the Adani Group, a diversified conglomerate with interests in ports, airports, energy, and other sectors. In order to improve the productivity of crops and the efficiency of farm operations, the Adani SBI have signed a master agreement for co-lending to farmers for the purchase of tractors and other farm equipment. In a statement, SBI stated that with this partnership, it would be able to target farmers in the country’s interior hinterland who are interested in adopting farm mechanisation to increase crop productivity.

  2. RBI requests public sector banks’ reports on loans made to Adani Group firms The Reserve Bank of India has asked all of the public sector banks for information on the amount of loans they have provided to Adani Group entities. The list of Adani Group assets that have been used as loan collateral is among the details the RBI is requesting. In addition, a list of the banks owned by the Adani Group’s indirect risks has been requested. SBI Chairman Dinesh Kumar Khara told Reuters that there was no need to be concerned about any risks associated with the Adani SBI collaboration. He had claimed that the Adani Group had not recently withdrawn any money from the bank. Societe Generale claimed that Adani Group’s exposure to the Indian banking industry is barely 0.6 percent.

  3. SBI states that any further funding for Adani projects will be based on merit At a post-earnings conference, State Bank of India Chairman Dinesh Kumar Khara stated that the bank does not see Adani Group as posing a threat to its ability to pay debt commitments and that no loan against shares has been made to the conglomerate. Chairman of SBI said that Adani SBI exposure as a whole is 0.9% of its entire loan book. Regarding SBI’s exposure to the Adani Group, there have been no concerns raised yet. The lender does not anticipate any difficulties in the repayment of loans from the organization, which billionaire Gautam Adani runs. Additionally, he said that no request for refinancing from the Adani group had been made.

  4. Purpose of the Adani SBI loan A group of banks has provided the Adani Group with a standing credit line that are being utilized for infrastructure projects. One of India’s biggest corporations, the Adani Group, has stakes in a variety of sectors, including ports, transportation, and energy. The loan to the Adani Group is to aid the expansion of India’s business sector. Large Indian corporations have frequently used SBI as a lender, and in recent years, its corporate loan book has expanded dramatically.

  5. Thank you

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