Indian banks' credit risk from Adani seems contained, says JPMorgan

U.S. prosecutors have charged group's billionaire chairman with bribery

20241122 Indian rupee notes

A man counts Indian currency notes inside a shop in Mumbai. © Reuters

MUMBAI/BENGALURU (Reuters) -- Indian banks' loan exposure to the embattled Adani Group seems "manageable" and any credit risk in the aftermath of its billionaire founder-chairman's indictment in the United States looks "contained," JPMorgan said on Friday.

U.S. prosecutors have charged Gautam Adani, one of the world's richest people, and seven other people with paying $265 million in bribes to Indian government officials for contracts, including to develop the country's largest solar power plant.

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