There needs to be a certain amount of seriousness to be taken with the exposure of the State financial institutions like State Bank of India and LIC in the Adani Group of cos which is in the region of Rs 57,000 crore with the stock crisis continuing and the firm facing problems with the rating agencies abroad. It is important that the Adani exposure is secured and therefore the Finance Minister and the Finance Secretary should make concerted efforts to recover the money. SBI on its part has been taking the position that all is well with the world and there is nothing to worry about Adani. That is what they had done with fugitive Vijay Mallya and then they came to the public and the Finance Ministry saying that the dues are irrecoverable. One cannot understand what is important for LIC to decorate their performance figures which in any case cannot change or an exposure in excess of Rs 20,000 crores which they stand to lose. Thus LIC also needs to get their act together and pursue their Adani investments.
