After Credit Suisse, Citi Group wealth unit stops accepting Adani group securities


Mumbai: After Credit Suisse, Citigroup Inc.’s wealth arm has also stopped accepting securities of Gautam Adani’s group of firms as collateral for margin loans as banks ramp up scrutiny of the Indian conglomerate’s finances following allegations of fraud by short seller Hindenburg Research, according to several media reports.

The decision by Citi group wealth arm will further aggravate the situation of Adani groups shares in the equity market.

Yesterday, Swiss lender Credit Suisse had stopped accepting Adani group bonds as collateral after which Adani Enterprises shares crash upto 28 percent.


Leave A Reply

Your email address will not be published.