MUMBAI: State Bank of India, the country’s largest financier, has given loans of as much as $2.6 billion to companies in the Adani conglomerate, or about half of what is allowed under the rules, according to a person familiar with the matter.
SBI’s exposure includes $200 million from its overseas units, the person said, asking not to be identified discussing private information. Dinesh Kumar Khara, chairman of SBI, said earlier on Thursday the Adani Group companies were servicing the loans and he doesn’t see an “immediate challenge” to whatever the bank has lent so far.
