Finance Minister’s big statement on Adani Group, said- Center does not force LIC, SBI to take a decision
In the midst of the Adani Group crisis, Union Finance Minister Nirmala Sitharaman has given a big statement. The regulator is free to take its own decision, he added.
India
oi-Mukesh Pandey
Published: Tuesday, February 7, 2023, 1:05 [IST]
Union Finance Minister Nirmala Sitharaman said a big thing on Monday in response to a question regarding the controversy over the Hindenburg report and the fall in shares of the Adani Group. He said the regulators are free to take their own decisions. The government does not force them in any way. The Union Minister said in a program that it is not possible to tell LIC or SBI every week which company they should choose. They are taking their decisions independently.
Regarding the Adani Group crisis and the Hindenburg controversy, Finance Minister Nirmala Sitharaman said on Monday that LIC and the central bank are free to take their own decisions. The Finance Minister said that the regulators in India are doing their job properly. He should be ready for any decision. The Union Minister said this in the program of Business Today. In response to a question, he said that the government held detailed talks with the heads of LIC and SBI. After this both have given their statements publicly.
While speaking about the condition of public sector banks, Nirmala Sitharaman said, “Profits of state banks are being published in newspapers. In the last 2-3 years public sector banks are showing how NPAs have come down.” and their profitability is increasing. Regarding investment in Adani Group, the Finance Minister said that the central banks are free to take their own decisions. There is nothing to hide.
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Responding to the opposition’s criticism on public sector banks’ investment, the Finance Minister said, “It is not possible for me to tell LIC or SBI every week which company they should choose. They are taking their decisions independently.” Let us tell you that the opposition called the recent ups and downs in the shares of Adani Group a scam and said that the money of common people has been invested in it. In fact, public sector units such as Life Insurance Corporation (LIC) and State Bank of India (SBI) have invested in the company.
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english summary
Center does not force LIC and SBI to take decisions says Nirmala Sitharaman on Adani Group
Story first published: Tuesday, February 7, 2023, 1:05 [IST]
