5 PSU insurers have Rs 347-crore exposure to Adani firms: FinMin

Earlier this month, Finance Secretary TV Somanathan had termed the Adani issue a 'storm in a teacup'

Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in Adani group of companies, the Finance Ministry said on Monday.

In a written reply to a question by Congress’ Manish Tewari, Minister of State for Finance Bhagwat Karad said Life Insurance Corp (LIC) held Rs 35,917.31 crore in debt and equity of Adani group of companies as on December 31, 2022. This is 0.97 per cent of its total assets under management (AUM) of Rs 41.66 trillion.

Karad also said that as per information received