Standard Chartered is the latest to join the camp of global banks that have turned down their appetite to take on risk from Adani-issued securities.
The bonds of Adani Group companies are no longer being accepted as collateral on margin loans at Standard Chartered, according to a report by Mumbai-based «ET Now», without elaborating on the source of the information.
Private clients at the Asia-focused British lender are being asked to top up their collateral to make up for any difference as a result of the policy change, the report added.
Standard Chartered joins global banks like Credit Suisse and Citi in cutting lending linked to Adani-issued securities in the aftermath of the Hindenburg Research release. Nonetheless, not all have been negative on the Indian conglomerate with Goldman Sachs and J.P. Morgan noting buying opportunities under current market conditions.
