India cenbank asks country's banks for details of exposure to Adani group
India’s Adani Group launched a share offering for retail investors Friday as it mulled taking legal action against US-based short-selling firm Hindenburg Research over a report that led investors to dump its shares, with some stocks in the group falling up to 20% on Friday.(AP)
India's central bank has asked local banks for details of their exposure to the Adani group of companies, government and banking sources said on Thursday.
The Reserve Bank of India did not immediately respond to a request for comment. The sources were speaking to Reuters and declined to be named because they were not authorised to speak to the media.
Shares in Adani group of companies plunged on Thursday after the tycoon Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses.
Keep updated, follow The Business Standard's Google news channel
