A claim is getting viral on social media sites regarding the world’s 3rd richest man Gautam Adani. Social media users are sharing a post and mocking SBI ( state bank of India) for relinquishing the loan of Rs 12,770 crore from Gautam Adani’s Mumbai Airport.
By sharing this post a user named Bihari Babu captioned: “Mumbai Adani Airport gets a gift from SBI bank Rs12,770 crore loan waived . This is the free gift.” ( English Translation)
Source: Twitter
Meanwhile, many other users are sharing a similar claim.
Source: Twitter
Source: Twitter
Source: Facebook
Source: Facebook
Fact Check:
To analyze the reality of the viral claim the team of DFRAC did some specific keywords on google related to the Gautam Adani Mumbai Airport loan of Rs. 12,770 crores and found that an article was covered by Business Standard on Monday, October 31, 2022. The headline of the article: “ Adani group achieves financial closure of Navi Mumbai airport project.”
The article stated that The Adani group received an Rs, 12,770 crore loan from SBI and completed its funding for the first phase of the Navi Mumbai International Airport Project. The group had announced that SBI has underwritten the entire debt of Rs12,770 crore for the airport project
This means that when providing the loan amount of RS 12,770 crore, the State Bank of India examined Adani’s group creditworthiness. It is done to minimize the unnecessary risks that may come in the initiative is adjudged a failure.
Conclusion:
It is clear from the verification of DFRAC that the claim made by social media users is Misleading. Because the SBI did not relinquish the loan of 12,770 crores from Adani’s Mumbai airport, the SBI has underwritten a loan of Rs 12,770 to Adani,s Mumbai airport by first examining the creditworthiness of Adani,s group.
Claimed Reviewed: SBI bank relinquished the loan of Rs 12,770 crore from Adani’s Mumbai Airport
Claimed By: Social Media Users
Fact Check: Misleading
