Punjab National Bank (PNB), which has about 7,000 crore of exposure to Adani Group entities, said that it is not worried about the holdings as most of its lending is backed by adequate cash flows.
Of the state-owned bank’s total exposure of 7,000 crore, 2,500 crore is related to the airport business, which is housed in the flagship entity Adani Enterprises that is currently in the process of garnering funds through an FPO.
“Whatever exposure we are having is backed by cash flow. Total exposure include investment of Rs 42 crore and remaining credit,” PNB managing director Atul Kumar Goel said while announcing quarterly numbers.
Source:
Economic Times
