SBI drafted in-principle agreement with Adani in 2014 for $1bn facility & brought in several banks for funding as part of consortium. The plan has had several iterations since then.
Adani will lose around $220 million a year if the Carmichael coal project goes through. Which raises the question, why is everyone adamant that it goes ahead?
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Dubai airshow crash & pilot death have rekindled concerns over pilot safety, and need for smarter automated systems that can step in when G-forces, temporary loss of consciousness hit the pilot.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
Reasons could be:
1. DUE DELEGENCE and proper evaluation of the risks considering the local resistance from climate activists.
2. WAITING FOR THE RIGHT KICK BACK
3. NO CALL FROM PMO.
In-principle sanction has no significance. Such sanctions are issued regularly to many applicants. For Housing Loan applicants such in-principle sanction are issued online. But final sanction is made after verifying all the details. SBI is right being cautious while giving final sanction to the proposed loan of USD 1 billion. Considering all the adverse features mentioned in the article, SBI should have courage to reject the application outright.
Reasons could be:
1. DUE DELEGENCE and proper evaluation of the risks considering the local resistance from climate activists.
2. WAITING FOR THE RIGHT KICK BACK
3. NO CALL FROM PMO.
In-principle sanction has no significance. Such sanctions are issued regularly to many applicants. For Housing Loan applicants such in-principle sanction are issued online. But final sanction is made after verifying all the details. SBI is right being cautious while giving final sanction to the proposed loan of USD 1 billion. Considering all the adverse features mentioned in the article, SBI should have courage to reject the application outright.