News
SBI, LIC exposure within permitted limits; markets well regulated: Nirmala Sitharaman on Adani-Hindenburg row
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the Indian banking system is in a healthy position and there is no threat to it from the ongoing war between Adani Corporation and Hindenburg Research.
Speaking to a news channel, Sitharaman said State Bank of India (SBI) and Life Insurance Corporation (LIC) of India have explained that they are not over-invested in shares of Adan Group. .
“They’ve made it very clear that their exposure (to Adani Group stock) is well within their bounds, and with valuations also falling, they’re still profitable. That’s from the horse’s mouth, ‘ said Sitharaman.
Her comments come as shares of Adani Group companies have been in free fall since the past six sessions, since US short-seller Hindenburg released its report on Jan. , highlighting stock manipulation conducted by the Group.
Speaking to a news channel, Sitharaman said State Bank of India (SBI) and Life Insurance Corporation (LIC) of India have explained that they are not over-invested in shares of Adan Group. .
“They’ve made it very clear that their exposure (to Adani Group stock) is well within their bounds, and with valuations also falling, they’re still profitable. That’s from the horse’s mouth, ‘ said Sitharaman.
Her comments come as shares of Adani Group companies have been in free fall since the past six sessions, since US short-seller Hindenburg released its report on Jan. , highlighting stock manipulation conducted by the Group.
