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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.

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Congress to challenge Meenakshi Natarajan’s Rajya Sabha nomination rejection in Madhya Pradesh High Court

Congress leader Meenakshi Natarajan has announced that the party will challenge the rejection of her Rajya Sabha nomination in the Madhya Pradesh High Court, alleging the decision was legally flawed and that the Election Commission failed to follow a consistent approach.

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The Congress is preparing to challenge the rejection of senior leader Meenakshi Natarajan’s Rajya Sabha nomination before the Madhya Pradesh High Court, shifting the dispute from the political arena to the legal forum.

Weeks after her nomination was rejected ahead of the Rajya Sabha elections, the former Member of Parliament asserted that the decision was not the result of any lapse by Congress leaders, legal experts or those involved in preparing the nomination papers. Instead, she claimed the rejection was based on an incorrect legal interpretation.

Congress to file election petition

Natarajan said the party would file an election petition within the prescribed time and contest the entire process before the High Court. She also alleged that a deliberate narrative was created to portray the rejection as a consequence of negligence within the Congress, thereby diverting attention from the Election Commission’s role.

According to her, the Returning Officer rejected her nomination citing non-disclosure of information related to a pending case. However, she argued that Form-26, which candidates are required to submit along with their nomination papers, does not contain any specific provision requiring disclosure of such information.

Natarajan said she has contested multiple elections in the past and maintained that experienced legal experts within the Congress have handled nomination papers for years, making such an oversight highly unlikely.

Questions raised over Election Commission’s approach

The Congress leader also questioned the Election Commission’s handling of the matter, alleging that it failed to apply uniform standards in similar cases.

She referred to the case of Rajya Sabha candidate Parimal Nathwani in Jharkhand, claiming he was given 24 hours to rectify issues in his nomination papers, whereas she was not provided a similar opportunity. According to Natarajan, the differing treatment raises concerns about consistency in the poll body’s decision-making process.

Congress sources said the party’s legal cell is preparing the election petition under the guidance of senior lawyers. The dispute had earlier reached the Election Commission and subsequently the Supreme Court, but the party will now pursue the legal remedy available after the election process through the High Court.

The Congress has also alleged that the Election Commission did not act impartially during the proceedings. Party leaders claimed senior Congress representatives and lawyers reached the poll body on time to present their arguments, but the proceedings were delayed. They further alleged that the Election Commission had the authority to overturn the Returning Officer’s decision but chose not to intervene.

BJP rejects Congress allegations

The Bharatiya Janata Party dismissed the Congress’ allegations, attributing the controversy to internal issues within the opposition party.

BJP state spokesperson Ajay Yadav said the rejection of Natarajan’s nomination was the result of internal infighting in the Congress. He also claimed that the senior leader had been sidelined within her party and suggested that the Congress should introspect instead of blaming the Election Commission.

Natarajan, however, rejected claims that the Congress was responsible for any lapse leading to the rejection of her nomination.

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Heavy rain triggers flash floods and landslides across Jammu and Kashmir, damaging roads and property

Heavy rainfall triggered flash floods and landslides across Jammu and Kashmir, damaging infrastructure, disrupting traffic and prompting authorities to issue a weather advisory.

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Monsoon in Jammu and Kashmir

Heavy rainfall across several parts of Jammu and Kashmir triggered flash floods and landslides, causing widespread damage to roads, vehicles and residential property. The adverse weather also disrupted traffic in multiple areas, prompting authorities to advise people to remain vigilant.

Flash flood causes destruction in Doda

A flash flood struck the Thathri sub-division of Doda district after heavy overnight rainfall, leading to significant damage to homes, vehicles and other property.

Floodwaters surged through the Thathri market after water levels in local streams rose rapidly. Large quantities of mud, stones and debris entered residential areas, inundating houses and damaging parked vehicles as water flowed through roads and marketplaces.

Residents said the flooding occurred suddenly, leaving little time to respond. Officials have started assessing the damage, while restoration and relief work is underway.

Local residents alleged that debris from ongoing link road construction is frequently dumped into the Thathri stream. They claimed the accumulated material obstructs the natural flow of water, increasing the risk of flooding during heavy rainfall. Residents urged the administration to take corrective measures to prevent similar incidents in the future.

Doda-Kishtwar highway affected by flash floods

Continuous rainfall also triggered flash floods that damaged the Doda-Kishtwar highway, disrupting vehicular movement on the route.

Officials said floodwaters deposited large amounts of mud, boulders and debris on the highway. A portion of the road was damaged, forcing authorities to suspend traffic until conditions improve.

In neighbouring Kishtwar district, heavy rain triggered a landslide and mudslide near the tunnel area of the under-construction 540 MW Kwar Hydroelectric Power Project, adding to the weather-related disruption in the region.

Administration issues weather advisory

The administration had earlier issued an advisory warning of heavy rainfall, thunderstorms, flash floods and landslides in vulnerable areas across Jammu and Kashmir.

Authorities advised residents, particularly those living near rivers, streams and nallahs, to remain alert and avoid unsafe locations during the ongoing spell of rain.

Samba receives highest rainfall

According to the Meteorological Department, Samba recorded the highest rainfall in the Jammu region during the 24-hour period ending at 8:30 am on Monday, receiving 90 mm of rainfall.

Kathua received 66.2 mm, followed by Katra (44.4 mm), Doda (42 mm), Jammu (41.8 mm), Udhampur (40.6 mm), Bhaderwah (33.6 mm), Kishtwar (24 mm), Reasi (10.5 mm), Batote (4.7 mm), Ramban (4.5 mm) and Banihal (0.4 mm).

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Mumbai-Pune train services remain suspended for second day after landslides, Central Railway issues fresh cancellation list

Heavy rainfall-triggered landslides have disrupted Mumbai-Pune train services for a second consecutive day, with Central Railway cancelling several MEMU services and continuing restoration work.

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Train services between Mumbai and Pune remained suspended for the second consecutive day on Tuesday after heavy monsoon rains triggered multiple landslides in the Bhor Ghat section of the Central Railway network, affecting one of Maharashtra’s busiest rail corridors.

Railway officials continued restoration work across the affected stretch, where mud, rocks and boulders have blocked tracks following persistent rainfall. Authorities said services will resume only after a detailed safety inspection confirms that the route is fit for operations.

Landslides disrupt railway operations in Bhor Ghat

The disruption was caused by multiple landslides in the Karjat-Lonavala section. A major landslide occurred between Thakurvadi and Monkey Hill Loop Cabin (MHLC) on the Up Main Line in the Mumbai division. Another incident was reported on the Middle Line between Khandala and Monkey Hill.

Continuous rainfall has destabilised slopes in the ghat region, resulting in debris falling onto multiple railway tracks and making train movement unsafe.

Teams from Central Railway have been working with heavy machinery to remove debris, inspect the tracks and restore services. However, ongoing rainfall has slowed restoration efforts, prompting authorities to continue the suspension of train operations in the interest of passenger safety.

Central Railway cancels six MEMU services

Central Railway has released a fresh list of cancelled MEMU services for July 7, 2026.

The cancelled trains are:

  • DRD-PNVL MEMU (Train No. 69164), departure 5:25 am
  • PNVL-DSR MEMU (Train No. 69165), departure 9:20 am
  • BSR-PNVL MEMU (Train No. 69168), departure 12:10 pm
  • PNVL-BSR MEMU (Train No. 69167), departure 2:35 pm
  • BSR-PNVL MEMU (Train No. 69166), departure 4:40 pm
  • PNVL-DRD MEMU (Train No. 69161), departure 7:05 pm

Passengers have been advised to check the latest train status through official railway platforms before travelling.

Railway Minister reviews restoration efforts

Union Railway Minister Ashwini Vaishnaw reviewed the ongoing restoration work and directed officials from Central and Western Railway to coordinate efforts to restore services at the earliest without compromising passenger safety.

Railway authorities said operations would resume only after a comprehensive inspection confirms that the affected tracks are safe for regular train movement.

Heavy rain also impacts road traffic

The intense rainfall has also disrupted road transport between Mumbai and Pune. Landslides and waterlogging affected parts of the Mumbai-Pune Expressway as well as the old Mumbai-Pune Highway, causing temporary traffic disruptions before authorities cleared the affected sections.

Meanwhile, the India Meteorological Department (IMD) has issued a red alert for several parts of Maharashtra, warning of continued heavy to very heavy rainfall. Officials cautioned that further showers could trigger additional landslides and delay the restoration of railway services.

Railway authorities said updates on cancellations, diversions and the resumption of train services will continue to be issued as restoration work progresses.

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