Big relief to Adani Group surrounded by difficulties, ready to give government banks and loans

New Delhi (Best Hindu News): Due to the Hindenburg report, there is a relief news for Gautam Adani who is in trouble. This relief for Adani Group has come from Bank of Baroda, one of the biggest banks in the country. Bank of Baroda has said that it is ready to consider lending more money to Adani Group. Hindenburg Research report accuses Adani Group of accounting fraud and manipulation of share price.

Bank of Baroda’s Chief Executive Officer and Managing Director Sanjeev Chadha has said that Bank of Baroda will give more loans to Adani Group if it meets the bank’s underwriting standards. He said, ‘I am not worried about the market volatility coming in Adani stocks.’ Chadha said in an interview, ‘You have underwriting standards. You remain with them in good times as well as in bad times. However, he declined to comment on the overall exposure of the bank to the Adani group.

Bank of Baroda will consider extending loan to Adani Group for its Dharavi redevelopment project. Chadha said that the loan can be extended only after considering the due diligence and concentration limit. Earlier this month, Chadha had said that Bank of Baroda’s exposure to the Adani group was about a quarter of the limit allowed under the RBI’s framework. Since the Hindenburg report came out, the market value of Adani Group’s listed companies has declined by about $125 billion.