Neither macro fundamentals nor country's image impacted by Adani saga: FM

Banks have an exposure of Rs 80,000 crore to the conglomerate, with the SBI leading the pack with Rs 27,000 crore

The country’s macroeconomic fundamentals are sound and the cancellation of the follow-on public offer (FPO) by the Adani Group has not impacted the country’s image on the global stage, said Finance Minister Nirmala Sitharaman on Saturday. 

“The foreign exchange reserve in the last two days has gone up by $8 billion. So, our macroeconomic fundamentals or our economy's image, none of which has been affected”, the minister said at a post-budget event in Mumbai. 

“Yes, FPOs come in, and FIIs get out. These fluctuations are there in every market, but the fact that we have had $8 billion in the