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RBI asks banks for details of Adani Group exposure

Adani Group’s market losses swells to more than $100 billion, a day after its flagship company abandoned a $2.5-billion stock offering

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On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani Group companies as collaterals for margin lending. Pic/ANI

On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani Group companies as collaterals for margin lending. Pic/ANI

The Reserve Bank of India (RBI) has sought details about lenders’ exposures to the Adani Group, banking sources said, a day after the conglomerate withdrew the Rs 20,000-crore ($2.5 billion) follow-on public offer (FPO) of its flagship firm Adani Enterprises.

On Wednesday, Swiss lender Credit Suisse stopped accepting bonds by Adani Group companies as collaterals for margin lending. On Thursday, Adani Group’s market losses swelled to more than $100 billion, sparking worries about their potential systemic impact.

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