Reserve Bank Governor Shaktikanta Das said on the loan of banks to Adani Group that there is no dent in the country’s banking sector with non-banking financial companies. The banking sector of the country is continuously moving ahead with strength.
RBI Gov. on Adani: After the MPC meeting and announcement, the RBI also talked about giving loans to Gautam Adani and his companies and Hindenburg’s allegations. He said that the banks of the country do not give loan on the basis of market cap of any company. The criteria for giving loans are different. He also said that the country’s banking sector remains very strong. He said that we have our own assessment and rating agencies do assessment in their own way, but there is no doubt that the country’s bank sector is continuously getting stronger.
The country’s banking sector is strong
Reserve Bank Governor Shaktikanta Das said on the loan of banks to Adani Group that there is no dent in the country’s banking sector with non-banking financial companies. The banking sector of the country is continuously moving ahead with strength. He said that I have said what I wanted to say. We have done our assessment. Rating agencies do their own assessment. With this answer, he made it clear that the loans given to Adani’s companies are completely safe, the banks have not suffered any loss due to the fall in the shares of the companies.
not based on market cap
RBI Governor Shaktikanta Das said that while giving loan to any company, the bank does not take into account the market cap of the company or does not give loan on its basis. Rather it has other scales. He said that while giving loan to the company, the bank takes into account the strength and fundamentals of the companies. If the company is right on these two things then other things are taken into consideration. This clearly means that in the eyes of the RBI governor and banks, the fundamentals of Gautam Adani’s companies are strong and there has been no reduction in the strength of the companies.
Has announced an increase in interest rates
In the last monetary policy meeting of the financial year 2022-23, an increase of 25 basis points has been announced in the policy interest rates. After which the repo rate has become 6.50 percent, which is the highest after August 1, 2018. In this financial year, RBI has increased the policy rate by 2.50 percent. After increasing 30 basis points in May 2020, RBI increased 50 basis points for three consecutive times. After that increased by 35 basis points in December. In such a situation, this year RBI has increased the repo rate by 2.50 percent.
