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India’s banking sector is in a sound position even amid the volatility caused by the Hindenburg Research report on Adani group, Finance Minister Nirmala Sitharaman said in an interview on Friday.
SBI and LIC have clarified on their exposure to Adani group, Sitharaman said. The two entities said that their exposure is well within the permitted limits and they are still over profit despite the decline in the value of their holdings, the FM said, adding “that is word from the horses’ mouth.”
The Indian banking systen is at comfortable level with respect to nonperforming assets, she said, adding that any macroeconomic analysis would reflect the same.
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