Indian banks are reviewing Adani Group exposure after US charges
State Bank of India, are reviewing their exposure to Adani Group and examining whether they need to tighten their due diligence when offering new loans to them, after the U.S. accused Chairman Gautam Adani of bribery, eight bankers said.
Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have a relatively smaller exposure to the group, are also undertaking a similar exercise.
A review would not necessarily entail any change in the lenders' credit approach with regards to the group.
A regulatory source aware of the development said from a banking system perspective there is no need to panic as no entity at this point is over exposed to the group.
The Reserve Bank of India did not reply to an email seeking comment.
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