Let’s give more credit to Adani. – psu lender bank of baroda says it is ready to extend loans to adani group which is hit by hindenburg report

The US-based Hindenburg Research Institute published a report on January 24 that the Adani Group was involved in various frauds including account fraud. After this, the shares of Adani companies have fallen sharply. The market value of Adani Group has fallen due to the decline of Adani shares. Gautam Adhani has been pushed back in the list of the world’s richest people.

The opposition parties have been criticizing the excessive loans given by public sector banks including SBI to Adani companies. Besides SBI, public sector banks like Bank of Baroda have already extended loans to Adani.

In this case, even after the Hindenburg controversy, Bank of Baroda Chairman Sanjeev Chatta has said that he is ready to provide additional loans to the Adani Group.

He said that to provide additional credit to Adani Group, the company has enough income and assets and is ready to provide additional credit to Adani if ​​it meets the lending standards.

Bank of Baroda chairman Sanjeev Chatta said he is not concerned about the fall in Adani shares due to the stock market volatility, and will provide additional loans if the Adani Group is qualified to issue loans. He said that in both good times and bad times, it is enough to adhere to the credit standards.

Adani Group has got a plan to develop Dharavi slum in Mumbai. The cost of this project is Rs 50.7 billion. He said that additional loans will be provided as Adani Group has the capacity to provide loans for this project.