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Japanese banks stand firm with Adani despite US bribery charges

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Japanese banks stand by Adani amid US bribery charges, while global firms like Barclays reassess their exposure.
The article from The Hindu Business Line discusses how Japanese banks, including Mitsubishi UFJ Financial Group Inc (MUFG), Sumitomo Mitsui Banking Corp, and Mizuho Financial Group, are continuing their financial support for the Adani Group despite allegations of bribery by the U.S. Department of Justice. These banks have not altered their lending policies towards Adani, with MUFG stating that their relationship with Adani remains unchanged. The Adani Group, which has been expanding its operations in various sectors, has been under scrutiny following accusations of corruption and stock manipulation. However, the Japanese banks are maintaining their stance, focusing on the group's business fundamentals and the potential for growth in India, while also adhering to their internal risk management protocols. This decision comes amidst a backdrop where other international banks have reportedly become more cautious in their dealings with Adani.

Read the Full Business Line Article at [ https://www.thehindubusinessline.com/companies/japanese-banks-stand-firm-with-adani-despite-us-bribery-charges/article68925845.ece ]