On Friday, the Reserve Bank provided some commentary on this. Banks and LIC itself, who are not regulators, came forward to disclose their degree of exposure [to the Adani Group], she said.
To a query regarding the troubled group, she replied, So the regulators will do their thing. And the regulatory bodies are free from governmental control. They are free to act in a proper manner. The SEBI is the authority, and it has the resources, to maintain the regulated market in top condition. In response to a different query about whether Adani Enterprises’ withdrawal of the Follow on Public Offer (FPO) would have any effect on the economy or damage India’s reputation, the FM cited the $8 billion that had entered India over the previous two days as evidence that the economy’s fundamental strength was still present.
Our economy’s and our reputation’s macroeconomic fundamentals are unaffected. FPOs enter the building and go, she continued. What do you think about the Indian budget? Let us know in the comments below
