Global banks weigh halting fresh credit to India's Adani after US indictment, say sources

Business

HONG KONG/NEW YORK : Some global banks are considering temporarily halting fresh credit to India's Adani Group but staying put with existing loans following U.S. prosecutors' indictment of its billionaire founder Gautam Adani for fraud, sources said. U.S. prosecutors have charged eight people, including Adani chair Gautam Adani, with agreeing to pay about $265 million in bribes to Indian government officials to obtain contracts and develop India's largest solar power plant project. The crisis