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04-02-2023, 01:39 PM
https://www.channelnewsasia.com/business...gs-3251491
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In the latest sign of the crisis widening, India's ministry of corporate affairs has begun a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years, two government officials told Reuters.
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Amid fears the turmoil could spill over into the broader financial system, some Indian politicians have called for a wider investigation, and sources have told Reuters the central bank has asked lenders for details of exposure to the group.
"Contagion concerns are widening, but still limited to the banking sector," Charu Chanana, a market strategist with Saxo Markets in Singapore, said on Friday.
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....
In the latest sign of the crisis widening, India's ministry of corporate affairs has begun a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years, two government officials told Reuters.
....
Amid fears the turmoil could spill over into the broader financial system, some Indian politicians have called for a wider investigation, and sources have told Reuters the central bank has asked lenders for details of exposure to the group.
"Contagion concerns are widening, but still limited to the banking sector," Charu Chanana, a market strategist with Saxo Markets in Singapore, said on Friday.
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