State Bank of India (SBI), the country's largest lender, said on February 8 that foreign banks have not taken any guarantees from the bank while lending to the Adani Group.
"We have not seen any default by Adani Group in the past. Don’t know whether Adani will approach us for loans," SBI Chairman Dinesh Khara told CNBC TV-18.
The Adani Group is in the midst of a crisis after US-based short-seller Hindenburg Research alleged irregularities in its books on January 24, setting its shares into a tailspin.
Adani Group share prices fell sharply in the days followed and some foreign banks stopped taking its bonds as collateral for margin loans.
India’s banking and stock market regulators have issued statements to pacify stakeholders, saying there were no systemic risks.
ALSO READ: RBI on Adani: Exposure of Indian banks to group not significant, lenders resilient and strong
Among the banks, SBI, in a post-earnings press conference, said its total exposure to the Adani Group stands at Rs 27,000 crore, or 0.8 percent of the overall book. Khara had said that there are no challenges concerning the conglomerates' debt servicing abilities.
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