Sunday, July 13, 2025
Today's News
Sunday, July 13, 2025
Today's News

Government Hasn’t Intervened in Adani Crisis, Says Top Economic Adviser

Government Hasn't Intervened in Adani Crisis, Says Top Economic Adviser

The “government has actually not stepped in anywhere,” Mr Sanyal, a member of head of state’s financial consultatory council, stated in a meeting in New York.

The administration of Prime Minister Narendra Modi hasn’t intervened in the Adani Group’s tussle with a United States brief seller that triggered a thrashing in the business’s shares, said Sanjeev Sanyal, an economic advisor to the PM.

The “federal government has not intervened anywhere,” Mr Sanyal, a member of Head of state’s economic advising council, claimed in a meeting in New york city. “Nobody’s having to rescue anyone in our system.”

Exposures to Adani team companies from the State Financial Institution of India (SBI), the country’s biggest investor and also the Life insurance policy Corp. (LIC), the country’s largest life insurance provider, are extremely tiny, stated Mr Sanyal, including that no firm is under any kind of monetary anxiety.

Shares in Adani team firms sagged following Hindenburg Research study’s Jan. 24 report affirming fraud as well as market adjustment. The team, controlled by one of Asia’s richest business owners, Gautam Adani, has actually denied the accusations. The selloff wiped greater than $100 billion off the conglomerate’s market value.

LIC has a financial obligation exposure of 61.8 billion rupees ($ 755 million) to Adani Team firms, while SBI, the nation’s leading loan provider by possessions, has a direct exposure of concerning 270 billion rupees, according to earlier statements.

” Our work is to make certain the marketplaces are clear as well as fluid and also function– except us to step in,” stated Mr Sanyal. “Transparency and also orderly market movement is the only thing we care about. If that is kept, the rates will certainly in some cases increase, in some cases they’ll come down.”

Mr Sanyal said the current collapse of Silicon Valley Bank, won’t have any kind of first-order effect on India’s startups.

Last Updated: 27 March 2023

INTERVIEW

Celebrities
In case you missed it

Top picks from The Times, recommended for you

Culture & Life Style
The Richest Places in Vermont: New Census Data Reveals the Top Contenders
10 Jul 2025
The Richest Places in Vermont: New Census Data Reveals the Top Contenders
Recent U.S. Census data has revealed a fresh look at Vermont’s wealthiest communities, offering insights into the state's economic landscape. Known for its stunning natural beauty, small-town charm, and progressive…
READ MORE
‘Squid Game’ Breaks Netflix Records: No. 1 in 93 Countries
‘Squid Game’ Breaks Netflix Records: No. 1 in 93 Countries
The third and final season of Netflix’s hit show “Squid…
READ MORE
5 Top Hottest Lingerie Models in 2025
5 Top Hottest Lingerie Models in 2025
The lingerie modeling industry continues to evolve, with new faces…
READ MORE
How To Experience The Best Of Ginza, Tokyo
How To Experience The Best Of Ginza, Tokyo
Ginza is Tokyo’s premier luxury district, where tradition meets cutting-edge…
READ MORE
The 10 Best Cocktails in America Right Now
The 10 Best Cocktails in America Right Now
The cocktail scene in America has evolved into something truly…
READ MORE
Entertainment
Why Las Vegas Casinos Stay Away from Cannabis
Why Las Vegas Casinos Stay Away from Cannabis
Tourism on the Las Vegas Strip is lower this year, but allowing weed use isn’t…
Smart Investment Tips Amid Changing Economic Conditions
Smart Investment Tips Amid Changing Economic Conditions
In a world of fluctuating markets and unpredictable economic shifts, investors must adapt their strategies…
The 10 Best New Movies On Netflix In June 2025
The 10 Best New Movies On Netflix In June 2025
Netflix continues to dominate the entertainment scene with a seemingly endless library of films and…
How Green Energy Helps Power AI Data Centers That Use a Lot of Electricity
How Green Energy Helps Power AI Data Centers That Use a Lot of Electricity
One sunny afternoon in April, a big power outage happened across the Iberian Peninsula. Millions…
5 Vanguard Bond Funds That Can Earn Income With Less Risk
5 Vanguard Bond Funds That Can Earn Income With Less Risk
Investors are dealing with unstable markets because of global trade issues, tariff talks, and AI…
This Overlooked Travel Essential Is Now A 2025 Summer Must-Have
This Overlooked Travel Essential Is Now A 2025 Summer Must-Have
As summer 2025 approaches, travelers are busy packing their bags with the usual suspects: sunscreen,…
Operation Sindoor: India Strikes Back After Pahalgam Terror Attack
Operation Sindoor: India Strikes Back After Pahalgam Terror Attack
In a decisive military response to the April 22 Pahalgam terror attack, India launched "Operation…
“Thunderbolts” is expected to make between $70 million and $75 million in its opening weekend at the box office
“Thunderbolts” is expected to make between $70 million and $75 million in its opening weekend at the box office
Disney-Marvel's Thunderbolts is expected to make between $70 million and $75 million in its opening…
WWE WrestleMania 41 Results, Winners, and Ratings for Night 2
WWE WrestleMania 41 Results, Winners, and Ratings for Night 2
WWE WrestleMania Sunday (Night 2) took place at Allegiant Stadium in Las Vegas. After an…
A Minecraft Movie” is expected to beat “Sinners” at the weekend box office
A Minecraft Movie” is expected to beat “Sinners” at the weekend box office
Even though Sinners is doing well against A Minecraft Movie, the latter is expected to…
Country
USA
USA News
UAE
UAE News
Egypt
Egypt News
UK
UK News
South Africa
South Africa News
India
India News
Qatar
Qatar News
Russia
Russia News
Ukrain
Ukrain News
Iran
Iran News