SBI about to loan $1bn to Adani coal mine - Can they be stopped?

Sources in India have confirmed that the SBI is planning to loan nearly $1bn USD to help Adani build a new thermal coal mine in Australia, and will be meeting this week.

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.

The SBI Executive Committee is meeting this week. You can easily email SBI’s executive committee, asking them to stop this loan.

1 Like

if you want to protest, take your money out of SBI.

you think they will listen to some customer regarding this issue. Good luck with that.

2 Likes

After reading Divyansh, ppl be like

2 Likes

Definitely communist!!!
Idiot flagged my post as inappropriate.
Talk about FoP and censorship!
Lolz…

1 Like

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?
:angry:

2 Likes

Yes, he has that much. $27bn - USD. His wealth increased by about $19bn USD in 2020 alone. Just google it.

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 :rofl: :rofl: :rofl:

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.

@JSDivyansh

You are on a zerodha forum here.
So I will give its example only.

The duo debuted on the Forbes India Rich List 2020 at No. 90, with a cumulative fortune of $1.55 billion. T

Read more at: https://yourstory.com/2020/11/zerodha-nithin-kamath-forbes-india-rich-list-byju-vembu-wealth?utm_pageloadtype=scroll

Now if you think they have got that much Cash, go and complete varsity first.

I didn’t flag your post, somone else did.

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 didn’t flag anyone. It is someone else.

I didn’t flag them. I have only just got online now. It amazes me how quickly everyone assumes it’s me!

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”!

1 Like

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.

1 Like

maybe file a petition for this and consult a good pro bono lawyer to represent on court.This is the way to deal with this kind of matters.

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.