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SBI has given Rs 21,000 crore loan to Adani Group, nothing to worry about, says SBI Chairman

After the cancellation of the FPO by the Adani Group, the company’s shares recorded a decline on Thursday as well

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SBI has given Rs 21,000 crore loan to Adani Group, nothing to worry about, says SBI Chairman

India’s largest government bank State Bank of India (SBI) has given a loan of Rs 21,000 crore ($ 2.6 billion) to Adani Group firms. This amount is half of what the State Bank of India is allowed to lend under the rules. This has been revealed in a report that came on Thursday.

It has been said in the report that the money given by SBI to Adani also includes $ 200 million from its foreign units. SBI Chairman Dinesh Kumar Khara said on Thursday that Adani group companies affected by the turmoil are servicing loans and he does not see any immediate challenge to what the bank has lent so far. Bloomberg has shared this information citing a source.

On Thursday, SBI shares were trading almost flat at Rs 527.75 on the BSE. After a report by US-based firm Hindenburg, there was a tremendous loss of market capitalization to Adani Group companies. According to a report, Adani Group companies lost $100 billion in market capitalization in a week after Hindenburg’s report. In this report of Hindenburg, questions were raised on the financial functioning of Adani Group companies.

After this report came out, there has been a huge fall in the shares of Adani Group. However, the Gautam Adani-led Adani Group called these allegations baseless and misleading. He claimed that in this report an attempt has been made to mislead the public. Adani Group had also talked about taking this matter to the court.

RBI seeks reports from Public Sector Banks on loan to Adani Group companies

On Thursday the Reserve Bank of India has sought information from all the public sector banks on how much loan they have given to Adani Group companies. News agency Reuters has given this information.

According to a Reuters report, the information sought by the RBI includes the list of properties of the Adani Group which have been considered as collateral for the loan. Apart from this, a list of indirect risks of banks in Adani Group has also been sought.

SBI Chairman Dinesh Kumar Khara told Reuters last week that there was nothing to worry about the risks with the Adani Group. He had said that Adani Group has not taken any funds from the bank in the recent past.

An organisation named Societe Generale said on Wednesday that Adani Group has only 0.6 percent exposure to the Indian banking sector.

After the cancellation of the FPO by the Adani Group, the company’s shares recorded a decline on Thursday as well. After this, the market loss of this giant company has gone up to 100 billion dollars.

On Thursday, the stock of Adani Enterprises fell nearly 20 per cent, reaching its lowest level since March 2022. Other companies of this group were also seen under pressure. Adani Ports and Special Economic Zone were down 5 per cent each, while Adani Total Gas, Adani Green Energy and Adani Transmission were down 10 per cent each.

If we talk about Punjab National Bank, then the total exposure of this bank in Adani Group is Rs 7,000 crore.

India News

Prashant Koratkar’s police remand extended March 30 over remarks on Shivaji, Sambhaji Maharaj

Prashant Koratkar’s police remand has been extended till March 30 following his arrest over controversial remarks on Chhatrapati Shivaji Maharaj and Sambhaji Maharaj.

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The Kolhapur court on Friday extended the police custody of former journalist Prashant Koratkar till March 30, in connection with his controversial remarks against Chhatrapati Shivaji Maharaj and his son Sambhaji Maharaj.

Koratkar was arrested earlier this week by Maharashtra police from Telangana after a phone conversation surfaced online in which he allegedly made derogatory comments and issued threats.

The case stems from a telephonic exchange between Koratkar and Kolhapur-based historian Indrajeet Sawant. The conversation, which Sawant later shared on social media, sparked widespread public outrage. Koratkar has been booked under provisions of the Bharatiya Nyaya Sanhita for promoting enmity between groups.

During his appearance in Kolhapur court on Friday, tensions flared as a lawyer verbally abused him while he was being escorted out of the court complex. However, police confirmed that no physical altercation took place.

Koratkar had earlier been granted interim protection from arrest until March 1 by Additional Sessions Judge D.V. Kashyap. However, following the interim relief, Kolhapur police moved the Bombay High Court seeking cancellation of the order. The Bombay HC directed the local sessions court to examine the matter.

Subsequently, on March 18, Judge D.V. Kashyap rejected Koratkar’s anticipatory bail plea, leading to his arrest.

The defence argued in court that Koratkar is the sole earning member of his family, and prolonged detention would cause undue hardship. However, the court upheld the prosecution’s request for extended remand to continue investigations.

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From Pushpa reels to a Tollywood deal, David Warner bags crores for 3 minutes role in Robinhood

David Warner just made the most expensive cameo in Telugu cinema—Rs 2.5 crore for less than 3 minutes in Robinhood. That’s not a role, that’s a retirement plan.

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The Australian cricketer David Warner, known for his explosive batting and dancing moves on Pusha song, has officially stepped into the acting world with a cameo in the Telugu film Robinhood. However, the cricketer’s acting dubute is not a big news at all but his paycheck is making bigger headlines than the film itself.

In the Telugu action film Robinhood, starring Nithiin and Sreeleela, Warner made a guest appearance for which the cricketer charged a staggering Rs 2.5 crore for a 2-minute-50-second cameo. That’s right—less than three minutes of screen time, and he’s laughing all the way to the bank.

That’s around Rs 14 lakh per second, or what most of us make in, well… a decade.

Warner shot his scene over just 2 days, at a reported Rs 1.25 crore per day. It’s unclear if he had any lines or just gave his trademark grin and left, but clearly, he bowled Tollywood over without even lifting a bat.

The film, directed by Venky Kudumula, released on March 28 and has been getting solid reviews. But let’s be honest—Warner’s cameo is grabbing more headlines than the villain’s plot.

Also featuring Vennela Kishore, Rajendra Prasad, and others, Robinhood tells the story of an orphaned Robin Hood-type hero… and somewhere in there, Warner pops in, waves hello (we assume), and probably left for biryani before the credits rolled.

Fans are loving it. Accountants are weeping. And Warner? He’s now officially Tollywood’s highest-paid cameo artist.

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Bengaluru man kills wife, stuffs her in suitcase

Investigations reveal a history of frequent arguments between Rakesh and Gauri, with allegations of physical altercations on both sides.

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Bengaluru Police have arrested a man, Rakesh, who is accused of murdering his wife, Gauri Anil Sambekar, and concealing her body in a suitcase before fleeing to Pune. The police tracked him down using call detail records (CDR), leading Satara police to take him into custody.

Reports indicate that Rakesh ingested a poison-like substance and admitted to committing the crime, prompting his immediate hospitalization, where he is currently receiving treatment.

The disturbing details of the crime emerged when Rakesh allegedly called his wife’s parents to confess. Gauri, 32, was a mass media and communication graduate who had been unemployed and staying home while Rakesh worked as a project manager for Hitachi. The couple had moved from Maharashtra to Doddakannahalli in Bengaluru, living there for about two months.

Investigations reveal a history of frequent arguments between Rakesh and Gauri, with allegations of physical altercations on both sides. The conflict reached a tragic climax on March 26 when Rakesh allegedly stabbed Gauri multiple times and ultimately slit her throat. He then concealed her body in the suitcase and left it in the bathroom before making his escape.

Deputy Commissioner of Police (South East) Sarah Fathima stated that the investigation began after a call was made at approximately 5:30 PM concerning a suspected hanging. Upon arriving at the locked residence, officers discovered the suitcase in the bathroom, which led them to realize a crime had occurred. The forensic team opened the suitcase and found Gauri’s body, which bore numerous injuries.

Efforts to locate Rakesh initially were unsuccessful, but law enforcement was able to track him through CDR data. Pune police were notified, resulting in his arrest. A team from Hulimavu police is en route to Pune to bring Rakesh back to Bengaluru for further questioning.

DCP Fathima noted that Gauri’s body was found intact, and the specifics of her injuries will be detailed in the forthcoming postmortem report. The investigation continues as authorities strive to uncover more information and clarify the motivations behind this tragic incident.

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