Nobody’s having to rescue anyone in our system'
The administration of Prime Minister Narendra Modi hasn’t intervened in the Adani Group’s tussle with a US short seller that caused a rout in the company’s shares, said Sanjeev Sanyal, an economic adviser to the PM.
The “government has not intervened anywhere,” Sanyal, a member of the prime minister’s economic advisory council, said in an interview in New York. “Nobody’s having to rescue anyone in our system.”
Exposures to Adani group companies from the State Bank of India (SBI), the country’s largest financier, and the Life Insurance Corp. (LIC), the country’s biggest life insurer, are very small, said Sanyal, adding that no company is under any financial stress.
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BREAKING NEWS: Modi govt hasn’t intervened in Adani crisis, says PM's economic advisor| अडानी संकट में क्यों मोदी सरकार ने नहीं किया हस्तक्षेप
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