The exposure to entities stood at 0.94% of its net advances on December 31, adding that it remained comfortable with its exposure.
Our exposure to the operating companies in the Ports, Transmission, Power, Gas Distribution, Roads, Airports, etc. is primarily due to our exposure to these companies, according to the bank.
The Adani Group, led by billionaire Gautam Adani, is reeling from a U.S. short-seller's scathing report in January that has cratered its shares, prompting calls from opposition lawmakers for a wider probe and the central bank to check on banks' exposure to the conglomerate.
State Bank of India, the country's largest lender, said on Friday it had no concerns about its exposure to the conglomerate, and that any further financing to the conglomerate's projects would be evaluated on its own merit SBI's total exposure to the conglomerate was 0.9% of its total loan book, or around 270 billion rupees $3.30 billion, the bank's chairman Dinesh Kumar Khara said.
The crisis at Adani Group was caused by the report by Hindenburg Research last month, which accused the conglomerate of stock manipulation and unsustainable debt. Adani Group denied wrongdoing in detailed rebuttals, and rejected the criticism.