Keeping a tab on development related to Adani Group: PNB MD 
Latest News

Keeping tab on development related to Adani Group: PNB MD

PNB has about Rs 7,000 crore exposure in Adani Group entities and said that it is keeping a close watch on situation after the release of Hindenburg report

PSU Watch Bureau

New Delhi: Punjab National Bank (PNB) which has about Rs 7,000 crore exposure in Adani Group entities on Monday said that it is keeping a close watch on situation, developing following the damning disclosures by a US short seller, Hindenburg. The state-owned bank has total exposure of about Rs 7,000 crore. Out of that Rs 2,500 crore is related to the airport business.

"Whatever exposure we are having is backed by cash flow. Total exposure include investment of Rs 42 crore and remaining credit," said PNB managing director Atul Kumar Goel while announcing quarterly numbers.

As on date there is no worry as the bank has not too much exposure keeping the size of the lender, he said, "we are keeping a close watch on development (on Adani front) in times to come."

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

GRSE signs MoU with Germany’s Reintjes GmbH to enhance marine propulsion capabilities

RITES, iSky Transport sign MoU to explore sustainable urban mobility solutions

Finance Ministry working on strategy to insulate economy from geo political shocks: DIPAM Secy

NSDL's Rs 4,011 crore IPO subscribed 41 times on final day of offer

India Post Payments Bank starts Aadhaar-based face authentication for digital banking