But, this mine is very controversial, with huge opposition from Australian citizens. This information was met immediately by protests at the SBI in Margao.
SBI decided against a similar loan in 2014 because it the project is so controversial, and over 85 major companies - including lenders and insurers, have ruled out working on the project due to the huge opposition to it. No private investor will go near the project, because they know it is a bad investment. Yet, here we are, with Indian taxpayeer’s money about to fund it.
Adani (the company) is in massive debt and has been struggling to finance this project with over 10 years of delays and struggles. Given, Gautam Adani is personally worth over US $25bn it seems so wrong that SBI is loaning our Indian taxpayer money to prop up a billionaire’s coal mine that will destroy our climate and hurt our communities.
I just can’t get how this guy is messaging and posting here?
Don’t he know the environmental and ecological impact of using PC, laptop, Mobile phones and internet?
i wonder why Trading QNA moderators quickly flung ,rush to flag the posts , if it is flagged by totally unknown & newbee!! , even the posts are not offending in nature!!
And he is flagging us when he himself posts a politically charged post. And if he doesnt like the reply he is free to go to r/India he will be showered with love there
Buffet ke Gurudev,
App trading forum mein aaye hai aur aapko capital ke bare mein ghanta pata hai!
His wealth increased means “share price” increased. Kisine uske godrej ki almari mein sone ke ande nahi diye!
@JSDivyansh
One should do proper things at proper places.
You know zilch about capital market, so better learn that.
About 2 blocks away from my lane is a slum area. Some of the residents even legally own the plots there. Now if you go by the appreciation in land price in last few decades all the owners are crorepati!!!
But are they really?
If tomorrow someone try to sell his plot, he wont get the price expected due to locality etc.
Same is true with Adani. He is filthy reach yes. But he do not own cash like you think. Its mostly notional value. If tomorrow he go on to sell his company his share prices will fall due to panic and he wont remain that much rich.
Also his wealth increased by 19bn do not mean he has that much cash. It’s just notional value of all his assets.
I think everyone is missing the point. It’s not necessarily about Guatam’s wealth, but an investment by our State Bank, using our taxpayer money, to loan $1bn to a company heavily in debt for a project that can’t even find private investors due to it being so controversial.
I take your words for it, as flagging is anyways anonymous.
Also we may not have failed in our purpose if we are able to imprint on you the real meaning of “wealth”!
Its natural to assume, but i think you are influenced by half baked or fake/biased media, Every bank, be it private or Govt banks , they are in business not in charity or in social service, RBI is there to govern their activities
if you are a socialist and want to play politics you can go to r/India you will get love there. As far Adani getting loan you should go look at the fundamentals of Adani enterprises. His company always pays interests on time. That is the case for the last 10 years I have been watching that script.
This forum is not for political debate , there are many places ,you can find and you can debate politics there , i am not interested in wasteful political debates!! if you are so concerned with this particular company , you can do like @Prakhar_Agrawal posted.