Gautam Adani has gained an image of invincibility in recent years and at one stage was ranked as the world’s second-richest person. Will he bounce back after the Hindenburg report, the market rout and the political backlash?
While banks are willing to continue with the sanctioned pipeline, opening the tap for new loans to the group will be difficult at this juncture.
Amid interest rate hikes, customers are taking longer time from inquiry to closure of home loans; many banks are growing home loans via inorganic growth.
SBI’s MD Sreenivasulu Setty expects the bank’s overseas book to grow from stronger demand for external commercial borrowings by Indian companies in FY24 as domestic interest rates are rising.
Union Bank of India gives its super mobile app a push; bank investing Rs 1,600 this fiscal in technology, up from Rs 1,000 crore in the year-ago period.
Odisha circle aims to account for 3% of SBI’s total balance sheet by FY25, up from 2.72%; to add 30 branches.
Hindenburg Research releases report on 24 January, alleging Adani Group of engaging in “brazen stock manipulation and accounting fraud”. Here is how the events rolled out.
For Indian banks, retail and MSME segments could see rise in bad loans even as they flag high growth rates, SBI managing director Ashwini Kumar Tewari said.
About fourth of restructured MSME loans could slip into NPAs while absolute quantum of bad loans in retail segment may rise. Corporate loans for ARCs are at a cyclical low.
State Bank of India has exposure of Rs 27,000 crore to Adani Group, there are no concerns so far on this loan book and any further lending to conglomerate’s projects would be evaluated on its own merit, says chairman Dinesh Khara.