Adani SBI Loan: SBI consortium will give a loan of 6,071 crores to Adani Group to set up a copper production plant in Mundra, Gujarat

State Bank of India and other state-run SBI consortium banks have given their consent to provide a loan of Rs 6,071 crore to the Adani Group to set up a copper production plant at Mundra in Gujarat. One million tonnes of copper is to be produced every year from this copper production plant.

According to a PTI report, Kutch Copper Limited, a subsidiary of Adani Group, is setting up a greenfield copper refinery project to produce refined copper. Production will start from this plant in the year 2024. It is worth noting that recently Gautam Adani celebrated his 60th birthday. On this day he donated 60 thousand crore rupees.

According to another news, the State Bank of India has increased the minimum interest rate on home loans to 755 percent. The new rates have come into effect from Wednesday, June 15. After the increase in the repo rate by the central bank of India, Reserve Bank of India last week, it has been decided by SBI to increase the interest rates.

Significantly, after the decision of the Reserve Bank to increase the repo rate last week, many banks have decided to change their interest rates. Recently, RBI had increased the repo rate by 50 basis points, after which the repo rate was increased to 490 percent. Before that, in May also, the repo rate was increased by 40 basis points.