Adani crisis not going to be indicative of how well Indian financial markets governed: Finance minister | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 24, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Get the Paper
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 24, 2025
Adani crisis not going to be indicative of how well Indian financial markets governed: Finance minister

Global Economy

Hindustan Times
03 February, 2023, 07:55 pm
Last modified: 03 February, 2023, 08:21 pm

Related News

  • Dhaka always wanted good working relationship with Delhi: Foreign adviser
  • Britain and India sign free trade pact during Modi visit
  • Man arrested for running fake embassy in India, duping people with job promises
  • AL leaders postpone 'Bangladesh genocide' conference in Delhi
  • Hundreds of Muslims unlawfully expelled to Bangladesh from India: HRW

Adani crisis not going to be indicative of how well Indian financial markets governed: Finance minister

Nirmala Sitharaman on Adani crisis: Finance minister Nirmala Sitharaman in an interview with News18 on Friday said the word from the horse's mouth is that the SBI and the LIC have not been overexposed to Adani Group stock

Hindustan Times
03 February, 2023, 07:55 pm
Last modified: 03 February, 2023, 08:21 pm
Indian finance minister Nirmala Sitharaman. Photo: HT
Indian finance minister Nirmala Sitharaman. Photo: HT

India Finance minister Nirmala Sitharaman on Friday reacted to the Adani crisis in an interview with News18 where she said India's financial sector is very well regulated and one instance, no matter how much it is talked about globally, is not going to be indicative of how well Indian financial markets have been governed.

Citing the statements of the SBI and the LIC, the finance minister said their exposure to Adani Group stocks is very well within the permitted limits and they are still over profit even with the valuation falling.

"I want to recall the words...coming from the horse's mouth has more credibility. Both SBI and LIC have issued detailed statements. And I know the chairperson or the CMD… he has himself come out and explained how they are not overexposed or whatever they said. And also said, look, we are sitting over profits for the exposure that we have which is well within the limit. That's what I understood. I read it through media," Nirmala Sitharaman said.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

They have very clearly said their exposure is well within the permitted limit and they are sitting over profit even with the valuation falling, the finance minister said. "

Indian banking sector today is at a very comfortable level and their position is very sound, Sitharaman said adding that she made the statement with a sense of responsibility. NPAs coming down to a low and recovery is happening and the situation gets reflected when they go to raise money in the market.

On global reactions in the last few days triggered by the Adani crisis, Sitharaman said, "India remains as before, absolutely well-governed with a stable government and a well-regulated financial market. As a result, the investor confidence which existed before shall continue even now. Our regulators are normally very stringent about certain governance practices. One instance should not be going to be indicative."

As Sitharaman was asked for her reaction on the markets which went up on the Budget day during her speech but fell following the Adani rout, the finance minister said, "The Budget has covered all the sections of society. The details took a long time in the preparation for the Budget. I am glad if it's received very well and now it motivates me to now better implement it down to the very last person. The immediate impact of the Budget on the market and subsequent to let's say for whatever reason it traded back.... I think in the next few days the Budget's impact will still continue to hold the markets high."

In a statement issued on 30 January, LIC said its total holding under equity and debt is ₹35,917.31 crore as on 31.12.2022 under Adani group of companies. The total purchase value of equity, purchased over the last many years, under all the Adani group companies is ₹30.127 crore and the market value for the same as at close of market hours on January 27, 2023 was ₹56.142 crore.


Disclaimer: The headline and body text have been modified

Top News / World+Biz / South Asia

Foreign minister / Adani / India

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Hasina and Taposh in an event in 2020. Photo: Collected
    Al Jazeera investigation: Hasina, in call with Taposh, talks using helicopter to shoot, crush protesters in July uprising
  • Former Chief Justice ABM Khairul Haque being produced before the Dhaka Chief Metropolitan Magistrate Court  on 24 July 2025. Photo: TBS
    Ex-CJ Khairul sent to jail over July Uprising murder case
  • Representational image. Photo: Collected
    Tariff talks: Bangladesh, US set for crucial virtual meeting on 29 July

MOST VIEWED

  • Photo: Collected
    Bangladeshi man jailed for life in UK for murdering wife in front of their baby
  • Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
    Ctg port authority halts contractor recruitment for Kamalapur ICD operations for two months
  • Fire at Cosmo School in Mirpur on 23 July 2025. Photo: TBS
    Fire breaks out at Cosmo School in Mirpur following generator explosion
  • Representational image. File Photo: Rajib Dhar/TBS
    Debate arises as edu adviser says postponed HSC exams of 22 and 24 July will be held on same day
  • BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
    BB issues dress code for all, discourages short-sleeved or length dresses, leggings for female staff
  • Infographics: TBS
    Stay orders won’t shield defaulters: BB governor 

Related News

  • Dhaka always wanted good working relationship with Delhi: Foreign adviser
  • Britain and India sign free trade pact during Modi visit
  • Man arrested for running fake embassy in India, duping people with job promises
  • AL leaders postpone 'Bangladesh genocide' conference in Delhi
  • Hundreds of Muslims unlawfully expelled to Bangladesh from India: HRW

Features

Illustration: TBS

The future of medicine: How innovations will catalyse quantum leaps in healthcare

2h | The Big Picture
Photo: Collected

24 July: More than 1400 arrested, 3 missing coordinators found

23h | Panorama
Photo: Mehedi Hasan/TBS

Aggrieved nation left with questions as citizens rally to help at burn institute

2d | Panorama
Photo: Mehedi Hasan/TBS

Mourning turns into outrage as Milestone students seek truth and justice

2d | Panorama

More Videos from TBS

There are many more examples of trials of Chief Justices in the world.

There are many more examples of trials of Chief Justices in the world.

15m | TBS Today
Why is there a massive conflict between Thailand and Cambodia?

Why is there a massive conflict between Thailand and Cambodia?

30m | TBS News Updates
Former Chief Justice ABM Khairul Haque in prison

Former Chief Justice ABM Khairul Haque in prison

45m | TBS Today
The Nvidia Chip Deal Trades Away the United States’ AI Advantage

The Nvidia Chip Deal Trades Away the United States’ AI Advantage

40m | Videos
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net