Key Points
The administration of India Prime Minister Narendra Modi hasnt intervened in the Adani Groups tussle with a US short seller that caused a rout in the companys shares, said Sanjeev Sanyal, an economic adviser to the premier...
The government has not intervened anywhere, Sanyal, a member of prime ministers economic advisory council, said in an interview in New York..
Exposures to Adani group companies from the State Bank of India, the countrys largest financier and the Life Insurance Corp., the countrys biggest life insurer, are very small, said Sanyal, adding that no company is under any financial stress...
Life Insurance Corp. has a debt exposure of 61.8 billion rupees ($755 million) to Adani Group companies, while State Bank of India, the nations top lender by assets, has an exposure of about 270 billion rupees, according to earlier statements...
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